If I win this bid, I would rent out my current residence and move into this one for about 2 years.

A win-win!

Good news is you have a previous owners track record to give you a little foreshadowing into what worked for them and how to build from their wins and fails.

If you know you know) Welcome to the forum Jim, plus your a #1 advice giver on BP which is pretty close to winning a Tony =) Best of luck 

They are trying to fight it but won't win.

pre-foreclosure means a notice of default has been sentforeclosure means a sale date has been setAuction is the actual auctioning of the propertyREO is Real Estate Owned - the bank won the auction  What happens when the bank wins the auction... does it go onto the mls as an reo property?

You can sue, you can win but collecting is the hard part.  

This is an integral part of doing deals, the wholesale community maybe push the numbers in their favor to make that deal happen, that is of course not okay, and the same thing is said for agents that say they can list a home for $20K more than the next realtor just to get that listing then ask for the price reduction later (this just happened to me).This is a company that I tend to hear more bad things about then good things and that is where the caution needs to be taken into real consideration and make sure you are doing with with people that are looking for a win-win, not a win-lose/sometimes win-win which can happen in real estate more often then not if a person is not looking out for themselves.

If you are bidding at tax sale, you likely need to bid on a number of properties to win just 1.

An eviction hurts both parties and nobody wins anything (except the attorney).