Older properties (like mine) are not eligible and have to be covered by surplus lines which means if your insurance company gets wiped out by a mass of claims due to hurricane and flood - you're on your own.

There is a surplus of renters here.

Hey Mike,There are not a surplus of multi-family in the Charlotte Metro area.

If the property sells for more than that, which is rare for a 2nd mtg foreclosure, any excess proceeds/surplus go to any junior lien holders, then the owner.

Remember that these need to be fully furnished with a housekeeping surplus so if not acquiring a current vacation property, this expense and timeline will need to be added to your analysis. 

Many new properties in the lease-up stage are offering concessions and we have noticed a higher than usual surplus of rental listings.Below you will find the total new multifamily units: *data provided by Johnson Perkins Griffin Apartments SurveyThe number of units planned or under construction for multifamily properties decreased to 9,479 units.

yes in my county all liens except gov't liens will be wiped and your surplus will go towards gov't liens but what ever is extra you have to pay 

In brief, there's a surplus of offerings.

@David Abed The supply/demand dynamics in L.A. are skewed right now that is why you have a surplus of investors looking for deals.

I'm assuming these are excess and surplus lines but I'm not certain.