When a property sells at an hoa foreclosure, the underlying mortgage Stays with the property, and as always occurs, the lender then forecloses, or already had the foreclosure in process when the hoa foreclosed.  

It occurred to me - Does anyone use a personal corporation?

You can keep making money on flips without needing a correction which may or may not occur.

A written criteria is essential.I suggest you focus on properties where an action is occurring, such as a high-equity foreclosure, delinquent taxes, etc.

Most of those scenarios occur around roofs that had paid claims and were never "fixed". 

If you think you will go FHA, Conventional, 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

We only work with real estate agents but it occurred to me that maybe folks in the BP-universe may already be using this to find sellers in their markets.

Recently, I've heard people even talk about trying to purchase properties in the areas where the recent flooding has occurred.

We only work with real estate agents but it occurred to me that maybe folks in the BP-universe may find this interesting. 

It protects you and always helps for those bad scenarios that can occur.