Buy from Whole Sale Investor

[Joan C.]

Hello,

I was approached by a whole sale investor, who is getting the property from bank directly, the price looks better than REOs in the market, but I am not sure if this kind of property has free and clear title as regular REO? and if the tenant stay, I need to evict the tenant.... how much discount (after repair) I should consider? 20% to be worthy of the risk?

What list of things I need to be watch out for if I engage in this kind of transaction?

Thanks in advance for valuable advise.