The college girls are very sweet. 2 play sports on scholarship and work and have told me they pay their own way with their scholarship money, loans, work etc and have good references from previous landlord and credit score. 

Too many new investors playing with fire and they end up getting burnt bad.. 

Basically - any legal filings that come into play during that redemption period could cost you the house - but you wouldn't lose your money as long as you didn't default on your obligations to the court / auction.In Florida there is no inspections of foreclosed properties.  

I don't see how a closing attorney has any liability in closing these deals unless their underwriter specifically forbids them and wont write title insuranceWill be interesting to see how it all plays out I think I will call the closing attorney I know well and has closed my new builds in Charleston and get his take on it..

We are of the mindset that this is the best play because it takes some risk out of taking the plunge. 

I'm the youngest in the group (by 20+ years) and my inexperience in real estate transactions is combated by my ambition and ability to work with numbers (this is where my job as a credit analyst comes into play).

Agree that Detroit is a unique case that has a ton of other factors at play.

That does come into play as well.Personally, given your current financials, I'd just leave it as is.

There are certainly exceptions to this (as in the opposite of neglected assets) but overall if a seller is in a position to play lender, they have business acumen. 

The way I look at it, a parallel might be a renter has a right to play music on a radio inside the unit, but if he turns it up super loud and it bothers others- that should be stopped also.Good Luck!