@Cameron Snyder -It seems like you have received good advice thus far, but to summarize:You can use your net proceeds at the time of close to paying off any outstanding loan on your property.

This bit, I truly don't get and would appreciate the help of vets out there - is the bank attorney mostly looking to cover their outstanding principle on the foreclosed loan?

For instance, if you’re looking at buying older units and tenants have an option for a brand new apartment complex, with outstanding amenities, they could choose the latter.

If you have outstanding credit card debt that isn't paid off each month, or a car loan that rivals rent prices (or both in my case), don't get into wholesaling. 

These markets often have outstanding initial cash flow that is often critical to RE investors when they are just starting their RE investing.

The contract said that all outstanding charges must be paid.

These are OUTSTANDING answers....thank you!

these numbers are outstanding. 

Then you may be stuck dealing with occupants that refuse to leave, stolen appliances/fixtures/cabinets, a place that's been trashed, outstanding liens that you weren't aware of, etc.I heard of a young lady that got excited about foreclosures about four years ago.

VPM requires the tenants to front the costs to rehabilitate the property, pay all the overdue taxes, and resolve any outstanding building code violations associated with the property, Wisconsin’s complaint states.And, if the tenant does not remedy those issues within a short period of time, VPM evicts the tenant and “repeats the cycle by renting the uninhabitable property to yet another Wisconsin consumer,” the Wisconsin DOJ said in a statement.According to the complaint, VPM rented properties with sewage in the basement; black mold; lack of water, heat, or electricity; insect infestation; and multiple code violations; among other issues."