@Chris Martin I hadn't thought to check the foreclosure file at the courthouse for the POA, I'll see if I can figure out how to chase that down.  

Sounds like they REALLY want to move to the neighborhood, warts and all.Cutting to the chase, here's my dilemma. 

Over the past 3-4 years we have had an influx of out of state (no offense intended) money chasing deals and driving up purchase prices, lowering cap rates and the ability to increase NOI significantly.

We do not want to waste time chasing deals/sellers.

Develop relationships and show that you're trustworthy of being brought off market deals; brokers are taking a risk chasing off market deals because there is a very real possibility that they will put in a lot of work and not get paid, either because the seller flakes or the buyer cuts them out of the deal.

When you get chased out and decide to update or improve a non-owner occupied property you'll find the building regs folks standing there.

chase QuickPay or PayPal. 

@Pino Alu Simply put, if you are looking for an amount of work equivalent to having a second job then chasing the cash flow from a low income property will work for you.Keep in mind that returns on paper are just that.  

I appreciate the story of the hunt and the brief "chase" with getting the bank to release their mortgage.If been to Akron (very briefly) one May and thoroughly enjoyed visiting the town and seeing some of the places historically important to me (Mayfair Hotel, etc.). 

Also for experienced investors, we can lend additional dollars towards the rehab after certain work is completed.In addition to what Chase recommended, be sure your lender:is a true direct lender with their own funds and is not a brokerdoes not sell the note after closing to another lender or fractionalizes your note to several lendersservices their own loansTo provide you a no obligation loan quote, we only need the following information: Property address Purchase price and projected closing date Rehab budget and rehab plan summary Current square footage and bed/bath count After rehab square footage and bed/bath count Projected exit/sale price Property pictures if availableA short summary of your experience We only finance non-owner occupied for sale residential rehab properties and new residential construction.Please give us a call or send an email if you have any more questions.