Need Advice: Stalking Horse Bidder in Foreclosure

[Amos Smith]

We are looking for advice on being the "stalking horse bidder" (first timer) on a mobile park that is being foreclosed.  Does anyone have experience with this, and what should be the general strategy?  Some issues we are pondering:  How much to set the initial bid?  Specific terms to ask for in the purchase agreement.  How much for the breakup fee...etc.

Any advice is appreciated!