BRRRR implies rehab, so yes. ·  Location?

I'm not sure what exactly is implied when you say "improved" land, but when it comes to finding comps and relevant data in your market, here is a quick overview of what I do: It's not a perfect solution per se, but then again - neither is an appraisal.

As Jesse Rivera sort of implies, it's only worth it if the published debt / judgment is sufficiently below what you're willing to pay.

The word ignorant does not imply stupid, as is sometimes assumed.

In addition, a Federal tax lien would affect your timing as the 120 R.O.R. applies.If you are serious about this niche, consider investing into training from one of the established defaulted tax property trainers.

@Jenny Caban  thanks for your explanation, I wouldn't have guessed that is what you were tacitly implying in your post.You guys need to be careful about recommending bond portfolio, or in fact utility funds as safe and stable low risk investments for parking money. 

Having been a dog trainer I have different worries about that than most landlords. 

I am not a slumlord (not implying you are either for the record), I pride myself on having nice properties with good finishes, and I've been rewarded for that with good tenants and almost no vacancy. 

I didn't mean to imply that the banks intentionally choose to bid 65% of total debt.

Former Lifestyles trainer Steve Davis has started this and has some Dallas trainings and meetings periodically.