Property can't qualify for title insurance

[Jason Howell]

There is a property on the local MLS that says it won't qualify for title insurance. The sellers are strictly looking for cash buyers. I had my agent check into this property and I did some additional investigation. We discovered that the LLC that owns the property purchased it on the courthouse steps roughly 7 months ago and is still in the 2-year redemption period. The LLC that owns the property was created roughly 9 months ago and, as far as I can determine, owns no other properties in the local area. I searched the county clerks records and it seems that the previous owners got behind on their taxes a few years ago and wound up getting a tax loan. It looks like that company foreclosed on them in 2020. I have not walked the property yet, but from the MLS photos and description, it seems to be in decent shape and vacant.

So, my question is should I consider buying this property, and if so, how should I conduct my due diligence? I don't know why this LLC is trying to sell within the redemption period, instead of simply leasing it for the 2 years until they can get a clean title and title insurance. Although, if they are motivated, it may be a good buy and hold opportunity. I've never purchased a property from the courthouse steps so I'm not sure if there are additional pitfalls that I need to investigate.

Thank you for any insight you can provide.