I received a letter from my insurance company today stating that they had to cancel my policy due to water damage to the ceiling of one of my units.I only purchased the property a few months ago and I had an inspection done that did not show anything like this nor have I heard anything from the contractor that my property management company had go in to the property to take a look.None the less this is obviously something I am going to have to take care of.

Is that who you send the "yellow letters" to?

Conditon of apartment is at time you take possession, so do a walkthru on that apartment within the first week or so of ownership.Ask owner to send or drop off to tenant letter of change of ownership this is usually done day of closing, and you also send or drop off letter of introduction including where and how to pay rent, and emergency service contact info. 

Listsource or yellow letters.

I am not familiar with LA tax sale law but I would ask who they underwrite on and if they provide indemnity letters. 

This will likely involve a regimented program of sending letters, physically getting out and spending time in the neighborhoods you want to buy, and networking.  

If I could wave MY magic wand on your behalf, you'd buy this property with about $5,000 down, and the balance on a note at 4% with a balloon payment due in 5 years. :) 

Ask for proof of funds and a SS award letter, or a bank statement that shows the amount of her SS.  

Hi @Ray Lai For yellow letters, although the envelopes are printed, they appear hand-written. 

Depends on the lender, check your Loan Agreement, depending on the term and purpose of the loan, it will specify either monthly payments or a balloon at refi.Read anything on BP, they have the resources you are seeking