Tony - one last point I'll add to my suggestion above. . . as it applies to me personally, I still owe $172,000 in outstanding student loan debt.

If you have a good amount of equity in the property, that's great but since you didn't do a short sale, you can't negotiate a reduction; you also inherit any outstanding liens.

Since the last oil crisis, Houston has done an outstanding job of diversifying...With high-tech, healthcare, and alternative energies booming, petroleum just doesn't have the effect on us that it did in the past...it's now a smaller piece of the pie that is Houston.Many locals remember the hard times in the '80s, and are fearful that they will return, but when you look at all that the area has to offer (booming industries, affordable housing, great schools, investment opportunities, friendly people, decent winters, etc.) you realize that Houston still has a lot going for it.And even if things were to cool off a bit, that's beneficial to investors, as it means less home ownership and more renters!

There are some outstanding pockets in Cambrian, especially in the 95124 zip code, that I believe are very fairly valued and have a great upside.  

I am looking to purchase a home through auction for my family and I and the details are as follows:Wells holds the lien and there are no junior or other outstanding liens.It was established in 2011 at 175k and the property owner stopped paying over the summer so I think it's in the 161k range for what's left on the mortgage.In talking to Wells they said that they were not listing the property for auction but the owner was... yet Auction.com lists this as a foreclosure property.My father would partner with me on the cash for this deal until I can grab my traditional financing but he is worried about being on the hook for more than we expect.If I have checked with my recorder of deeds for any extra liens or overdue taxes, sewer bills, etc, can I be on the hook for anything more than my bid price if I win? 

Outstanding community.

At a scavenger tax sale, the bidding starts at $250 regardless of the amount of the outstanding taxes.

You can only have one outstanding FHA loan at a time.  

Below is an outline of what we have outstanding:3 family - Loan in my wife's name only - house hackedSFH - Loan in my name only - Owner occupied and plan to keep it that wayNow for our next loan on an investment property I am not sure if we will use both of our profiles to purchase but we are open to just figuring out what works best.

The county auditor's page will reflect the new ownership based on that purchase price (plus any assumed liabilities such as outstanding delinquent property tax bills).