HUD's interpretation of the federal laws surrounding this matter are readily available, and all landlords and PMs should be familiar with it (there has also been a flurry of lawsuits related to it, exposing many landlords and PMs to significant liability). 

From my interpretation, this means that the county took possession of the property at this time and this is a matter of confirming the auction date with the assessor?

I'm not sure if there's a more creative and beneficial way to interpret it for tax purposes.

I interpret your tips as 'play it safe', which is something I definitely need to keep in mind.

Astute investors will realize this and will likely interpret this comparison as an attempt to either beguile them or that you're green and don't really understand the risks that your investment carries. 

Is my interpretation accurate?  

The Crime Rating from Trulia is Low (tried to use the Minneapolis.gov site but there's so much information and I'm not sure how to best interpret it.) ---- is there another reason why this area isn't seen as a good area to invest?

I am in need of some basic deed terminology interpretation.

@David Smith  We have had different DJs interpret  LLCs differently. 

@Andrew S Austell, Your situation is a little fuzzy and needs some accountant interpretation from your tax returns.When you bought that original property your accountant assigned a basis to everything - house and land.