Also there are reputable firms like Marcus and Millichap that have brokers in each market.

Not a good reputation in this industry.

try 5miles.com  similar to craigslist, but sellers have reputation/feedback.I was going to suggest replacing it with used.stay clear of used apliance stores. 

If you are over $1mm, then I would call a few reputable commercial mortgage brokers. 

And this won't just affect just landlords, the tax consequences will eventually flow right on to single family homeowners as well.

We are working with the closing's title company - they are reputable and we have an open line of communication with them, and the listing agent, seller's lawyer, and the reputable title company have told us it's clear there are no liens - to make sure we are sufficiently insured in the title insurance, to make sure the title policy has coverage without any of the liens exceptions listed on auction.com:"Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"Is this the right approach for bank-owned?

Have them determine the useful life of the big ticket items like roof, furnace, ac, electrical and plumbing and use that to determine what you need in reserves and consequently what you can afford to offer on the house.You'll also want to look at the cash flow in case of additional vacancies keeping in mind what the vacancy rate is in your area.

Find a reputable accountant, this is too big of a decision to listen to someone in an online forum.

We have several properties in neighborhoods that folks typically ignore due to their location/reputation. 

As far as back taxes and liens against the property, if you are working with a reputable title company, they can perform a search of the property and confirm if there are outstanding taxes/liens against the property.