That is a game changer. 

Title is not at fault, they settled December correctly.

Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

For C/C- neighborhoods you usually need to scale to 10+ doors; it's a numbers game. 

Lots of people either rush in to quick or don't ever get in the game.

I added arcade games, board games and accept pets as well.

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

There is a new bill being proposed hopefully eliminating Pmi if that gets passed that would be a game changer .

The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

But we would still be guessing.The game-on for you is to get your GC out to the property and give you a budget beforre the proeprty gets snatched by another investor.