As a banker this is risk we talk about all the time, it doesnt' matter when you have 4-5 units, or even 10 maybe, but as your net worth increases and the percentage of it is concentrated into one industry, one asset, and one location, that's risky. 4. inefficiency in procedure.

this house I'm looking at has been going through chapter 13 procedures for the last 5 years (yeah these people dragging out the inevitable). 

You could even pull all of that and send it through Azure machine learning or something with the data massaged to look for good deals for you.Paul definitely got my wheels spinning, very good episode I will go back and watch again and continue finding good deals with data.

They should at least be able to point you to the Exact codes/statutes/procedures.

Each case can be slightly different, there are a bunch of procedural requirements you won’t learn on your own without making mistakes that could could make you start over or even lose the case entirely.

There's a "rare" case of the property owner declaring bankruptcy before the day of the sale... you can lose your entire bid amount that way... that's atleast what a lawyer stated in a consultation.3) you call the IRS lien department they can fax you a paper document stating if there is a lien or not its best to have this - unsure about the 120 days start date but we can safely assume it starts once the sale occurs or the date its switched legally in the clerk systems.4) State specific - FL the mortgage is wiped out and all liens (excluding municipality liens)5) No they're giving you a "tax-deed" - see my recently purchased tax-deed below (it may look a bit different after the county officially enters it in their systems which happens around 10 days afterward in FL).6) it depends on how your state does their tax-deeds if it has an online system you can literally see the mailings that have occurred and you'll know if the proper procedures were taken.

There are some other ways to massage these figures to make it work but this is just a general figure.

No sense on guessing about their procedures/policies.

Or does this have its own procedure that can be followed?

My understanding of the law is that a bankruptcy filing can stop all collection procedures, at least temporarily, and that would include eviction for non-payment.