I like the idea and want to bounce a little variation off of you tying it back to BP.The sharing and collaborating between everyone may end up being the best part of your idea so everyone else can see it as well.

There are several variations of this solution, but it ultimately comes down to the former tenant needs to put in a change of address form.

Here is what I have (a few variations).

I have always used different variations of a name, but this idea is much better.

There may be some variations from California to Georgia Tax Deed laws. 

There are always nuances between the different districts and even between judges but that doesn't really matter in this discussion because the variations are in the various foreclosure laws of the states.

In most cases the original lender is not told that the buyer is flipping the property on the same day for thousands more than the lender has been told is the market value of the property.In the cases we have seen, the investor has not put any of his own money into the transaction, and uses the new lender's money to fund the entire deal.A variation of this program involves the investor having the seller convey the property into a "trust" with the investor as "trustee".The Fund has made a business decision not to insure these types of transactions.

I've known of variations of that, some with flipping and some with turnkey providers.

You'll also see much more variation in ARV and in the actual offers.

I know there will be a little variation based on size and condition, but I wanted to see if there was some expected industry standard.