@Caleb Heimsoth I am a Finance major, looking to bring Real Estate on as a double major in those two fields.

@Wayne Brooks Actually I am an attorney... just not in TX or FL.Once the buyer and the title company become aware of the adverse claim (thereby eliminating the bona fide purchaser defense) I doubt the sale moves forward without either the blessing of all parties (tenant joining in execution of the deed) or a final disposition of an action filed in an appropriate court.

If there is a final judgement for a property in foreclosure auction that has the following statement, does it mean that if there are any liens or judgements against the property or owner that they go away and the successful bidder is not responsible for them? 

You may do something that later has to be redone or gets you hit with a fine which is all extra money out of your pocket not accounted for within these projections.

This helps avoid any confusion and also makes our lives easier when someone is trying to do a final walk through at midnight because that's when their Lease expires. 

What about a final move-out inspection? 

If I were you, I would only resort to quantifying it as a last ditch effort if she doesn't care about the numbers, or at least a final side note. 

You do not say if you have a finance degree or background, but you did not point out that IRR is not generally used only by itself.

If I were you, I would allow five days between the transfer (and warn the incoming tenant that you may find something that will further delay their move), make yourself available to do a final walk-through with the old tenant (and take pictures), and then make yourself available to welcome the new tenants.Turnovers cost money and time -- that's the nature of the landlording game.

After 5pm you've got to come back and collect what is left & take it to the dump or you'll get a fine.