As you say though, the trick is to get good people in you homes and avoid the issue all together.I will be relocating to an area within striking distance of B'ham this summer.

@Jake Kozul Find the owner and strike   a deal, BEFORE you pay their taxes.There is another more complicated procedure called ADVERSE POSSESSION, however in Michigan it takes 15 YEARS, and has strict requirements.

Strike Plumbing ($6000 in worn out copper), fixtures (expense), Components (expense), Structure (unless you are in CA;), Countertop (expense), Paint (expense), and Landscaping (expense).

As tey say third times as charm, or three strikes and you are out.

Usually there is a specific price specified in the option (the "strike price").

It strikes me as very strange that the previous owner would install half of a brand new system.

We spent about $30 for more secure strike plates and the thing for drilling the deadbolt hole out.

The credit cards, you can always keep moving that balance to low rate cards until you get in a position to get rid of them, and if disaster strikes, go bankrupt.

Not sure whether it has the financial strength to pay up all the claims if a major earthquake strikes California.

It isn't that complicated: strike a deal, determine what title company wants and close.