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Even if you own a property in TX, you are conducting business in CA because you live here, collect the income here, etc.

Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.

Their algo isn't sophisticated enough, yet, to accommodate natural disasters and inventory shortages so it's most likely responding to the incredible demand (and unaware of the legal implications).

More likely, he is hoping to use the extra time to collect more rents and thus more fees to generate the funds to pay his owner clients:(

Most S8 tenants have a history of bad decisions, often having convictions, evictions, bankruptcies, chargeoffs, collections, garnishments, etc.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Their might be some wiggle room if what is being collected comes in over the market rent however for the most part the market rent would be the preferred guideline and any deviation from that would be up to the lender that you are working with.

Sit back and collect checks *(or no checks).

This is day to day spending, rent collection, tax/utility payments etc. (1) account for all security deposits, (1) account for parachute fund, capex items etc.