So, if you put in 20K, you could set the bid up to the amount of the 100K total debt(80K existing + 20K additional) to ensure that the property reverts to you as the lender.

Even if you primarily rely on finding your own deals off market, it never hurts to have a reliable agent on your team as an additional lead source.

Additionally, some states hold Escrow and Title services differently. 

In addition, if this was originally an owner occupied house, there are often homestead exemptions where the first  $XX,XXX. of the value of the home aren't taxed.  

Also, be sure to check with the section 8 agency managing the tenants - sometimes if you pass on an additional cost like that they will no longer be eligible to live there if the rent and utilities exceed what they were approved for.

In addition, these markets are seeing both home values and rents appreciate.Cash flow from a property will depend on your down payment.

Additionally, many deals tend to fly under the radar, so networking within organizations like NARPM (National Association of Residential Property Managers) can help uncover opportunities.If anyone reading this is considering selling their property management company in Texas, feel free to share—I’m genuinely interested in connecting.

You can later transfer the property to the LLC, but be aware it might trigger due-on-sale clauses or additional costs.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

I also want the seller to sign, just to add its own confirmation to the tenant's statements.