I expected to see it for sale after he started getting violations, but he arranged to have the bare minimum work done and it remains vacant waiting for the next violation to come his way. 

Although being paid to fly around the country to help people in different markets sounds appealing, I've always advised others to buy local help, and believe mentees will generally have a better experience w/ someone who's immersed in their market and available to meet face to face regularly.  

In that price range figure on a 10% cost to sell or $10K = 6% commissions, 3% for seller concessions (possibly 3.5%) this will be a contribution from the seller to the buyer to pay for the buyer's closing costs because most of these buyers barely have enough money to pay their down payment and 1% for the seller's closing costs.  

If you are facing foreclosure do not rely on such ideas.  

Has anyone been faced with a similar situation?

And face off with everyone during the bidding.

So when I contact you by email and list out in detail what I'm looking for and what my resources are and you force me to give you my phone number before you'll talk to me - we're done.Please - just give me what I ask for and if/when I see something on your list that I'm interested in, I will hike up my big girl pants, bolster my courage, but on my outside face and call you.  

They said they had been "barely" using it but the plumber reported the wife said she had cleaned corn a few days earlier.

@Rich Hupper Most notes are purchased at a discount not at a premium "unless it's a premium note" Giving a higher rate of return than the face value interest rate.

Let's face it, it's hard enough sometimes to communicate simple ideas to the person standing in front of you, let alone a complicated plan to someone over the phone.