If there are two loans, there is a HUGE difference to you and can result in a loss, if you are bidding on the wrong loan.

@Gwen FyfeSorry to say but you are in the wrong here.

The main reason properties go to tax sale is people didn't get the bill because the address of record is wrong. 

For right or wrong many sellers do not like FHA. 3) Larger loan limits as shown below.With most lenders 75% of rents will be counted as income for helping increase your purchasing power like always. 

Don't get me wrong though, I know if I decide to pursue this it will not be an easy road, I am willing to take on a little headache.

(Don't think you can go too wrong in that area if the numbers make sense).  

Am I wrong to be afraid???

His getting the day of our meeting wrong and leaving me a rude voicemail asking why I wasn’t at my property like we agreed upon and “missing” my replies back to his texts are just to name a couple.

There is really no wrong answer.

You'll usually need some sort of guarantor that will not declare bankruptcy the minute something goes wrong; too easy to do that in an LLC.Once you have a track record, private money folks will lend to you, and on larger properties (large MF) commercial real estate banking looks almost exclusively at the property.Spend some time researching the financing options.