Called a property owner today who is going through foreclosure. Turns out the hearing is tommorow. He is very willing to settle this directly with me. He is around 10k in backed payments with around 60k on the note. It is a 3/3 1800sqft. The home has some damage from previous tenants. The ARV for the home is a conservative 190k in an extremely desireable area ( A/B ) of Columbia, SC with a strong rental market. The house next door is a 2/1 that rents for 950. Similar 3/2 rent for 1100-1350.
As luck would have it, I work right next to the trustee attorney. The attorney notified me that I would need to get the property under contract. I have been given authorization by the seller to receive information regarding the foreclosure. I'm visiting the property this evening and hopefully get everything in writing.
This is my first true step of action and want to ask if you where in my shoes, how would approach the situation?