Buyer 1 buys one of John's property through a tax foreclosure sale, no notice is given to IRS of sale and it is in a non-judicial foreclosure state.

I have no back round or formal education in investing and I am learning as I go.

Here in Georgia, our foreclosures are non-judicial: four weeks of notice in the county organ, then auctioned off on the courthouse steps.

In 2008 I sold my commercial property formally known as Buffalo Radiator (63est Utica..

I currently own 2 single family homes and a duplex as well as one commercial building that I lease to my speciality contracting business.I am mostly a "buy and pray" type investor and an looking into formalizing my real estate investments into a more business like arrangement.I have much to learn but at 63 my long term investing may extend to my progeny

A formal probate would permit an administrator or personal rep to sell the real property asset for the benefit of the estate to generate liquidity, satisfy creditors and cost if administration, and distribute the remaining proceeds to heirs, beneficiaries and/or assignees.

Typically, when I probe them that investment is a vacation home and not needed as a formal investment. 

Neither of us are looking to profit on this venture meaning we will not be paying our selves, but reinvesting all profits back into the company.I'd like to form some sort of formal corporation before we move forward: LLC, S corp, ETC.  

I have never had any kind of formal training on any of the platforms, so my success (and maybe lack-there-of) is based on my ability to pick it up and run with it (or not).

I amy be a bit biased, but after working with investors form all over the globe, the one thing I have learned is that the venture is largely hinged on the front end of the transaction that  utilizing a reliable higher local provider with sophisticated operations and systems not just plans of how they will help you acquire, repair and pas you along to a magnet company.