House gets foreclosed on when a borrower is not paying its debt obligations - typically its mortgage.buying foreclosures is not for the faint of heart as you have no idea of the interior of these properties lastly while it can be beneficial also realize if there are a lot in an area those homes are the new comps when trying to sell so it lowers home values in an area 

It is the RIGHT of any property owner to sell or transfer title and he is under NO obligation to inform anyone of such.  

I have home owners insurance should i buy another landlords policy as well?

Clouded titles are often uninsurable from a title insurance perspective. 

A PMC is like insurance - how long would you choose for your family to live without medical insurance?

(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

There will be no assessment for increase in taxes or insurance so remains at $1935.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

@Quan Pham have you investigated at all the potential increases in property taxes and home insurance (need to have landlord policy) and included them in your cashflow calcluations?