So I found a short sale property contacted the agent and tried to make an appointment for a viewing but unfortunately was unable to get a date because the owners wouldn't answer the agents calls , so I took matters into my own hands and took a trip to the property and knocked on the door and found out that the owner is out of town and will be back in a few weeks, note that the wife was the one who told me this ....

thanks everyone I think I might have to do the cash for keys but now I have to figure out a date to do it and the place is well maintained (surprisingly).

The foreclosure date was the 7th, and  they asked for a little more time to find an apartment.  

The aggregate amount of IRA distributions taken by an IRA owner that may be treated as qualified first-time homebuyer distributions cannot exceed a lifetime limit of $10,000.A first-time homebuyer is an individual (and, if married, the individual’s spouse) that had no present ownership interest in a principal residence during the two-year period ending on the date of acquisition of the principal residence (IRC Sec. 72(t)(8)(D)(i)(I)).

Best of luck and keep us up to date with what you eventually decide to do!

I told them they were responsible for the rent for the duration of the lease, but that I would relist it as soon as they told me they gave me a move out date. 

I can recommend a few lenders and I am also a Realtor if you need help getting up to date info on listings, sold comps, or need to see a property that is for sale.

The home is dated but livable.

They required 2 DE LLC's: LLC#1 my husband and I are 50/50 partners and LLC#1 is sole member of LLC#2 which will be the borrower for the loan and it is a disregarded entity.Since the expense has been incurred and we are set with another lender, and since LLC#2 is registered to do business in the states where the rentals are located we would like to use the setup.To date I am a Real Estate Professional, this is what I do full time and my husband holds a job.I believe that there will be no issue taking the loan to LLC#2, changing the deeds when the loan closes from us to the LLC and that income/loss will pass through to LLC#1.I believe that since LLC#1 is a partnership that again we still will continue to report income/loss to our personal return and I can continue to be considered a Real Estate Professional. 

Chris Thomas Has the auction date been set?