help needed on REO Occupied "As is" property

[William Zhang]

I just started to invest on real estate. I recently found a REO property for bid, which says "REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing."

How much risk do I have? Is it usually hard to obtain possession of this kind of property after closing? How long does it take? If it takes too long, that means I will lose money by not able to rent it out, right?

Also, since I cannot inspect the property, how much rish is there? Should I walk away from this property even though the listed price is a little bit less than 1/2 of the value assessed by county clerks last year.

Thank you very much in advance for your valuable advice on this important investment! If there is too much risk involved for this purchase, I may have to choose another "safer" investment with probably less return.