For more formal partners, hard money:They will want to see the deal and all the numbers that go with it. 

Some people just like To live that way- Messy class C of someone who is monitarily challenged.The working poor, that's why you should be judicious in choosing how you outfit the unit.Some will go with, for instance stone countertops (hard to damage), while others will go with formica (cheaper), And others will go with heavy duty paint (quick repairs on a turn) for countertops in a class C.

Would love to connect if you wanted a formal quote 

They are putting money out there to get approved.The final filter is your screening after they formally apply. 

It's important to note that only judicial foreclosure sales will eliminate federal judgment liens (other than federal tax liens) in favor of the United States, subject to a right of redemption (1 year).

You would go back on forth via counter until an agreement is reached between both parties and then formal documentation.

The Judicial (Free & Clear) Sale wipes MOST but not all liens and encumbrances away.

The most commonly known is a non-binding offer from the buyer where the main points to agree upon (e.g. price, down payment, financing structure) are agreed upon before a more formal contract of sale is drafted.

We have some sharp people here, some with just a couple years of experience in real estate, but they are a formally educated crew that can really be full of themselves and speak with the same authority as if they had been in the industry for 40 years.

@Rick Pozos  AS Rick noted he has not had issue when had to foreclose but he is also in Texas VERY short time lines..But you do the same transaction in Mortgage states were forclosures are judicial and time lines are years..