Once your reserves are higher, you can start taking profits form the monthly cash flow on this deal. 

 @Jared VidalesSo what your inquiring about is the Court Confirmation Sale/Auction.

I will again make sure my lender send me that confirmation in writing.

If you have the cash, proof of funds is easy: Screenshot a bank balance or provide a recent bank statement.If you have a legitimate hard money lender who has underwritten the deal and confirmed you have the down payment and cash to close, they should be able to provide you a letter stating exactly that.If you have neither, then you have no business making an offer in bad faith and trying to tie up the seller's property.Also (and this is crucial and a common rookie mistake) - Don't send a "cash" offer to the title company and then neglect to tell them about your hard money lender.

I can do 80% no reserves required if that works for you! 

I also picked a couple properties from the website and the Assessor’s office confirmed that Land Equities Inc. is indeed the owner.

Please make sure you have enough reserves.

No apparent structural damage, but will be able to confirm after the inspection.

Quote from @Richard Hoyte: What is a good and or acceptable amount of money to have saved up before buying your first rental property I'm aware this can vary depending on the state/area but is there a rule of thumbThank you ahead of time  Hello Richard, Your down payment amount will have a lot to do with this.If you are going with the minimum downpayment of 3 - 3.5% , you'll want to have at least a total of 10% of the purchase price (to also account for closing costs) + 6 months in reserves.

The main thing is to have sufficient reserves because stuff will go wrong in a house like that and it’s typically more costly than a newer home.