Know the rules of the sale, some sales wipe out liens, some do NOT, some require only cash payments, others won't accept cash, personal checks or business checks, some require pre-registration, some require that the bidder can't owe delinquent taxes on any property, some vet the bidders for state and Federal liens,.....2. 

@Thomas Farrellmiscellaneous reactions-BRRRRs won't produce cash flow - they're an equity strategy, not a cash flow strategy-OOS BRRRR on your first deal will be incredibly difficult. 

Can you easily find cash purchases close to the property and things like that?

Socal is tough to find investment properties that work.I have a great realtor in Sacramento that can find properties that cash flow.

It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.

Despite all the challenges and total *****how unfolding, I will say that I do believe Jorge is genuine and really wants to successfully get through all this. 

Using seller financing allows your in-laws to spread their $217K capital gain over time, reducing their immediate tax burden and helping you conserve cash.

If you need an option that isn't as document heavy, a DSCR cash-out might be a viable option if it's an investment property.

But if your goal is to leave your day job soon, multi family will offer more cash flow typically.

Many judges would feel you got paid even if no cash was sent to you.I could see this potentially working on a higher-end property that it in excellent condition with a Grade A tenant.