It's not overly complicated but due to the elevation requirements/foundation etc I am probably looking at $250/sqft... so 450k.  

Occasionally we see judicial foreclosures where, for whatever reason, the foreclosure was taken through the courts and the judge orders a sheriff's sale of the property.Hope that helps.

Records show it is owner occupied but who knows there could be a tenant there...I hope to have a cash for keys deal done but want to get started on judicial evictions ASAP in case it doesn't work out.

Real estate investments are a lot more complicated than investing in a mutual fund.

It's complicated.

There are many many more hoops to jump through, and paperwork needing to be filed, and custodian fees (and fees and fees) not to mention having to deal with "non-recourse loan" lenders AND the complications of the taxes...I came to the conclusion that unless you can buy the property outright in the IRA it just wasn't worth the hassles, red tape, paperwork etc etc etc.Plus, RE has many great tax advantages that you would be giving up when buying in a tax advantages account.If I had $150-200k in the account, that would make things different.

OK this is quite simple.your purchase price is 391k  seller pays the lien from their proceeds.. 203k gives you the 50k for rehab you move in..Are you not being represented by a competent RE broker.. this is really remedial real estate and not complicated at all.. and these things are handled daily as you would be surprised how many sellers have title that looks like a rap sheet   LOL.

And, to complicate things, the buyer didn't pay for two month and I started foreclosure proceedings.

For future AZ investors, don't put more than $2500 earnest money down on your offers because $2500 is the limit for small claims court in AZ and any more money it gets complicated.....

It's not clear where the property is located or what foreclosure process the subject property has to go through but for both judicial and non-judicial it is best to seek the discharge prior to the action.