Auction.com lists a few important docs: Trustee Sale Terms and ConditionsSample Trustee Deed Upon SaleSample Certificate of Sale/ReceiptIRS Form 8300Foreclosure Property InformationTitle Insurance Policy InformationI think the 1st four docs are those I need to fill up, sign up when auction is done.  

Asking price..850,000GR.....75,600...No vacancy added 10% for vacancy....75600-7560=68,040Expenses...26,879.15...not showing management....Insurance......Gas 
Took 50% of adjusted gross income 
Which equaled..34,020 The cap rate with the price of 850,000 and NOI of 48,721 = 5.7%.

You could beat that rate with an online FDIC insured high yield savings account.My two cents... take the deal, don't renew the tenants after the lease is up, and sell the house.

Should just pay for title searches?

I see people saying remember to include your Insurance , are they talking about home insurance or renters insurance ????

The difference is that the holding entity (exchange accommodating title holder) is the intermediary doing the 1031 exchange for your parents.  

Per the Mortgage Calc:Purchase price of new home is 400K100k downpaymentat 3.375%30 yearsannual taxes of 2,454.85annual insurance 1,000+/-Monthly mortgage $1614.20 - now for me, that is too big of a bill to cover at this time.  

Does anyone know how I might purchase an insurance policy on this property for fire etc?

Said it's an insurance thing that you could be spending all money on new plumbing and have a problem with sewer line still...House is 60 years old and wasn't much maintenance.Thoughts?

Insurance contacted us about the deceased being the beneficiary still (whoops), so we got a new policy.