This way if you run into a seller that needs their money now, and it's a heck of a deal, you just buy it outright (lots of realtors around here make offers directly to the seller if they want the house for their own portfolio, including my realtor who is part owner of his company) and either keep it as part of your fleet or assign it, and if it's not a heck of a deal you throw it up on the MLS rather than being forced into trying to pawn off some crap on an unknowing investor. 

Come to find out the outstanding water bill was nearly $4,000!!! 

The bank that had been lending to him was purchased by a larger bank that did not like his outstanding debt. 

Outstanding local RE attorneys 

There is also an outstanding gas bill.

@Jeremy HunterI just checked out city fleet and it looks like it's a car rental website, haha.

@Anastasia Jordan and Bonnie, the problem is one of outstanding redemption rights.  

You look like to are off to a wonderful start and as always the BP community never fails to offer wonderful advice and outstanding activity leads. 

Outstanding violations to the property not worth the headache of working out?

FHA/VA with a high LTV loan may provide difficult initial cash flow but gets you into a market that has historically produced outstanding ROI.