They owe $70K on the first mortgage and did open a second mortgage in 2006 for $20K--remaining balance unknown. 

Its fear, of the unknown.

Kudos for going to the auction and networking.In general, auctions are not for beginners as there are many risks such as not being able to visit the property, unknown liens and most counties require a payment either immediately or within a few days.

You will have to disclose your license on marketing, but I've never viewed that as a downside that couldn't be turned into a benefit:  if I were licensed, I would use that as a tool to discuss why a client should work with me rather than an "unknown and unlicensed" wholesaler.

I could tie into the city sewage for an unknown amount ($5k I believe).

So you totally get the apartment vacant if unknown others are living there..Don't cancel, go to court. get the writ and proceed You could ask court clerk if you could ammend the filing to add "Et el" otherwise you may need to do a new filing against remaining people..Call your clerk of court and ask if they can give you any details in this instance or call attorney.

I'm a little hesitant on this deal because of the unknowns.  

Agreed with others...this is a potentially expensive unknown risk.

@Chris SeveneyThanks for your advice . i dont want to invest more than 20k in unknown ( for me) area .Can you explain finding parthnership?

If you are using a HML it also helps to be able to send them theirs or something that has more to explain Scope of work and unknowns.