This process has been working really well for me.

I know PA has a process to go through before you start a foreclosure, but have never seen a requirement to offer a mod.Sure, https://legal-info.lawyers.com/bankruptcy/foreclosures/delay...Under the Dodd-Frank Act, the bank must first wait until the payment is more than 120 days overdue."

I am in the process of vetting property managers and they are int he running.

Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

I’m currently in the process of searching for my first property, which I hope to house hack and eventually convert into a long-term rental. 

When you do a little extra work ahead of time, the process goes so much more smoothly.

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

Even large and small businesses with intangible residual services like TV, internet, security, pest control or the local contractor with remodels in process could fall behind on payments revenue contract. 

I would just add that probate isn't really a painful process in most situations.

@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps:Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period.