And if you are dealing with a difficult seller, and a shady sellers realtor, you'll be the one screwed over.  

To me it seems like a decent compromise in the need for housing and the ability for home owners to make decisions about the highest and best use for their own property.Currently working on being able to put an ADU on a SFH property in a Denver metro suburb and the process is sooooo cumbersome, so I am glad that hopefully others won't have to deal with that process for much longer

They think every other deal they come across is priced $50,000 below market value2.

Get a lender, enter into contract, close escrow, enjoy your new home. if you have less than 30 days, you would need the seller's cooperation to contact the foreclosing entity to see if they will postpone to give you time to close the deal. it's not guaranteed and the lender is under no obligation to do so but if everyone wins (seller sells, lender gets paid off in full, you get a home), most lenders will provide a small window of time to get it done.

I would definitely shop more, neither of those deals make sense to me. 

I also think I am dealing with August in general.... and as a northerner miscalculated the start of school in my head. 

Your time is better spent doing a deal than it is figuring how much money you might make if you did deals.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

If you properly notified the owner prior to that date and then they died after you took ownership, then you do not have to deal with their heirs.

Lending would cease over night and government bailouts would commence.In my area of NE Ohio we are considered disaster free and generally we do not have any of the catastrophic issues that other parts of the country do... welp until last week when three tornados rampaged across three counties ripping down trees, power lines, roofs, siding, and putting over 500k people without power for a week - some still don't have power nor will they until all the trees are removed from the power lines.