This is all they are entitled to collect, any money above that balance goes to the owner, or subordinate liens.2) if they realize the property is not worth nearly what they are owed, they can bid up to a number lower than what they are owed, realizing they will never get the full amount owed.Sometimes, when these bank bid numbers are known/advertised, it will result in skewed bid results.....here bidding starts at $100, if the bank reveals they are bidding up to $180k (amount owed), on a property worth $100k, then no one bothers bidding, so the banks "buys it" for $100.Don't understand your reference to "doesn't the bank have a liability of $140k"?

It is only revealed after the booking is successful a few days before the person is to arrive.

A web search or checking meetup.com should reveal most of them.

Inspections reveals some needed work.  

I have 50 page inspection which reveals issues with plumbing, electric, HVAC, and roof.

The money spent on them has far greater return then trying to sort out which contractor's system will work for your situation.Taking the stuff out of the basement won't likely reveal the problem any better.

A quick Google search reveals that the Protecting Tenants From Foreclosure Act was extended in June 2018 with no sunset provision now.

I'm nearly positive that a really deep dive into the code would reveal at least a dozen 'safety' code issues besides this one, and all of them are reasonable to expect in an older home. 

Be productive by reading legal and business papers (they are full of leads),  review expired listings daily (make offers on all expired listings in your investing area) , call for sale by owners, make offers (use a skinny contract of sale, it is easy to read and understand - one page), run ads in local papers and on the internet, look at houses or commercial properties every day, understand and use an APOD (annual property operating data form), this form will reveal the accurate NOI.

If so, he could qualify for a loan that requires only a 3% downpayment.A 3-minute search revealed this:duplex in Greenway for $315KI won't speak to the desirability of the neighborhood and such, because I am not a Washingtonian.