I have been reviewing the comments and advice on this site for a little while and am excited to have joined the forum. I'm in the planning stages of starting a real estate investment company, which like so many, will begin hopefully with wholesaling. I would be very interested in networking with local real estate experts.

I have actually been in property management for about 6 years and feel this is a natural transition.

I do have a question on a potential deal. I apologize in advance for being longwinded but hope the below details will assist with any advice:

I have an in-law who has a second home in which her daughter currently lives. There's no lease in place and her daughter is willing to move out at any point. She just received notice that foreclosure proceedings are starting on the house due to nonpayment of the mortgage and HOA fees. The tax assessment which I looked up online is $50k for her house, although she owes around $96k on the mortgage. The delinquent amount owed for the mortgage is $12k with $10k owed for HOA. I confirmed that there are no delinquent property taxes owed on the property. She is in the process of trying to do a loan remodification but ultimately wants out of the house if possible and would love for me to take over the property. She is even willing to stay on the loan but turn over the title/deed to me.

I just want to know if this deal makes sense and how to broker it? Ultimately I really want to help out family, but I also don't want to tie up funds if it's not financially feasible.

Hello all! New member from Maryland. Advice needed already:)

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