Any specifics about what should be in this agreement?

I see an opportunity to buy land which is relatively inexpensive in the big city markets, build something and make a fairly good profit margin (30% to 50% if not more than I put into it).

@Ray Lai my list was filtered to multi family owners in a couple specific zip codes that had owned for over seven years or more years.I have done a very similar mailing with same contents/criteria but used a paid mailer and the results were less than 1% response with 0 deals.

Can I go to local banks/credit unions/lenders for the loan on a SoloK property, or do I need to work with specific banks/lenders?

They said what you guys did about there not being enough of a margin for profit.The guy said they liked the way the numbers were presented (thank you - Brandon)  (:-)Property lost to foreclosure, owner not bothered by it.I have just begun to learn about "Subject To"Like Brandon says 90% of the time, the numbers do not work.I appreciate the help extended to me.Let's make deals in 2018!!

@david I’ll definitely check out central nj any areas specifically?

As an investor, I apply more specific numbers. 

What specifically are the differences in way of managing from monthly rentals? 

As far as I know, insurance is state specific, and regulated by laws of the states.

Has the legal owners been informed of your method of liquidation, are you prepared to settle if you can't assign, what will you do if  the owners decide not to come to settlement, how will you respond to the assignee or sellers in the event of a default, have you considered specific performance suit by assignee or sellers in the event default, have you made full disclosures?