Point to remember- An LLC ONLY limits the award or judgement from someone involved in that property.

on the west coast in trustee sale states it very straight forward.. the winning bid amount goes to the trustee company.they then pay the bank their credit bid.if there is junior liens those funds are sent to those lenders or judgement creditors.. if they cant be found many times they are held for an amount of time then interpleaded.. just like a title company does with EM thats never collected or fought over.In Washington State you do need to make a claim with the court..

Get O&E/Title Report Determine Tax Liens, Judgements & Junior liens (HOA, 2nd ,Mechanics Liens, etc.)Verify FMV:Get local Realtor CMAAsk Realtor about neighborhood/local market details (gang/high drug use area?)

It just occurred to me and i am sure there are many reason for not hurrying up to sell a home even if equity exists when facing a foreclosure suit. i am about to buy a home at the county auction, and the home is worth 300k and the judgement amount is 190k. why didn't the homeowner hire a realtor, and sell the home instead of losing all the equity in the foreclosure process. is it a lack of knowledge , a problem with the home itself, ignorance or they don't want to be bothered with the stress until the sheriff comes to escort them out the house ??

Two questions for you:1) What kinds and size of judgements are you typically seeing against property owners?

The seller has judgements against him, but they were awarded before he inherited the house.

I would like to stick with a B or B- is possible.I did look at the various turnkey offerings- the impression I got was they are majorly C/D areas with mostly 1-1.25% rent/price ratio; or otherwise overpriced- i am sure they need to make money too, no judgement there. 

Don't forget folks, even if you have 1K to your name, a 2 mil judgement against you will follow you for life.

It is definitely poor judgement, in my professional opinion, to sign off on a repair of that expense without having prior written approval.

Also as far as garnishing wages I imagine I need a judgement first.