You might be able to trigger the current owner's title insurance to pay out if you re-setup the DOT properly and serve a foreclosure notice to the current borrowers and their trustee and the previous owner, etc.

There could have been past due property taxes and code compliance issues.

And, while a note may be a bond, it may not meet the threshold for compliance.

I am putting together my first direct mail campaign and it is exciting to hear you have pulled the trigger and taking action.

If I can get the property for 2% of rents I will probably pull the trigger but am not sure how much I should plan to put into the property immediately.

Your state may have different landlord/tenant laws, so you'd probably need to read up on all of them to make sure you're in compliance.

The notes, I bet, aren't in compliance, having 6, is my guess.

Last I checked in Virginia, I believe it was 3 properties allowed under the SAFE ACT before compliance issues arose.

What is the "trigger" for being able to claim depreciation on a residential property "investment":Is it investor status (vs dealer) ( assuming intent coincides with status)Length of hold (like tax rate)Whether you rent it or notOr something else.

It's in our lease that tenants will comply with all HOA rules and are responsible for fines and appearing at any hearings for HOA notices issued on their property, but our property manager attends, too, to verify their compliance.