Owner has 180 days to redeem and my purchase price would be paid back if he does so.I see two key risks I am worried about:1) Owner stops paying the mortgage and bank initiates foreclosure. 

@Gus DelgadoWe just got a list of around $20M in defaulted multifamily loans in dc 5-20 unit propertiesSo it will be interesting to see how they shake out but there are gonna be some opportunities in DC - as mentioned know TOPA but don’t run from it

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Dallas area is definitely a strong market - we are also seeing some solid opportunities a little further south in the Temple / Killeen / etc areas as well

If so, try starting with the median list price in your target market. 

Does anyone have a recent reassessment in Bay Area, given the high purchase prices, that place land at such a premium???

Price versus value.

Is there a lender that will loan just the purchase price, collateralized on one of my properties (2nd position, well under 70% LTV) so I can bid on it? 

With a large increase in buyers, we can expect to see prices increase.

Both purchase price taxes and expenses could be disputed as higher or lower though I think they are pretty reasonable.