My figures are below.TaxDeed Winning Bid: $489.00 (My Bid May 2013)Property Clean-up: $450.00 (mowing, trash removal)Taxes & Insurance: $80.00 (2013 & 2014)Sale Advertising: $130.00 (Signage, Newspaper Ads, etc)Filings & Legal Fees: $245.00 (Deed, Lien Releases, Sales Agreement Docs)Total Costs: $1395 (approx)Sold for: $3250.00 (August 2014)That is better than the 25% I would have received if the property was redeemed during the redemption period.

Can someone please tell me, what are the best ways to source and bid on Foreclosures?

And no, the purchaser would not have a viable claim over the incorrect record as all information concerning the subject property must be independently verified.Owner should have accepted the pre-auction offer which turned out to be ~2x the high bid.

Other wise they would have bought it at the auction and would have told you they owned them so you would not waste your time and money bidding.. that's the other play these redemption buyers play.

I would suggest contacting companies for each trade and get an average bid from each sub. 

There are also groups that go to every auction every time so if you win, they let you win or bid you up.

For the last 3 years the lower risk loans on the peer to peer platforms have been bid to where they're paying in the 7-8% range.  

What I like about it is that multiple cleaners bid for the job.

@Tom Gimer thanks for the shout out@Bryce Adams Tax assesed value is a terible way to base your bids.

Simultaneously, develop a detailed scope of work and collect bids from multiple contractors to compare costs and timelines.