The borrower MUST receive something of value for the deed in lieu, agreeing not to foreclose immediately and giving the borrower time to reinstate, or providing a modification, is that something of value.I need to clarify that these notes are commercial and investment property, so do not have to comply with residential lending requirements.With a deed in lieu there is no foreclosure, judicial or non judicial.  

If not, I most definitely would reach out to the tenant, introduce myself and ask if they are going to be out by the 31st or the 1st, I would communicate  to the tenant as if I know they were told they are expected to leave, otherwise you may find they "do not know" they need to leave even if they actually know they need to leave....In the case they claim they are not aware they need to leave, you would need to follow the laws in the state you purchased the property, usually you can find that info on the states judicial branch or speak with a landlord tenant attorney. 

However, in judicial foreclosure states such as NY, NJ, FL, IL, IN, OH, PA and the others, the preREO strategy can be very helpful.

If you can't even do one, then continue to save judiciously to get your "starter investment capital". 

I believe the judicial council will push it off to the legislature.   

They will be your BOG (boots on the ground) to be able to view the property.I will say that I did buy my current primary residence abroad and it wasn't fairly complicated, I would just do some things differently than I had initially anticipated if that makes sense.

Super complicated and an absolute specialty I dont know how smaller players bust into this. 

Seems to me it would be a bit complicated with any sort of lending.

Just to complicate things further, a capital call has been issued.  

It'll only be more complicated when we acquire additional property.