The foreclosed borrower got a $80K payday (how ironic) and the winning bidder ended up with a property with a 1st balance coupled with the amount paid for the 2nd putting them at 110% of FMV. 

If for some reason they did not already have an agent within that distance you would want to make certain your office was visible (google, maps, local directories, phone book, whatever) should they be looking for an agent to meet the banks criteria.Of course this is just logic, but you would be amazed how many agents its actually difficult to find.And as a related issue - if you are an agent - you should be able to Google your name and find your number instantly.

You won't have to deal with any maintenance or property problems and you can make some decent paydays (5-10k).

Some people hang up on me on the phone maybe because they instantly knew I was a foreigner.  

They expected prices to rise, to be able to refi and just hang on, even with negative cash flow, and sell for a big pay day.

nice payday for a short time.

So I could instantly send the same offer and everyone was happy. 

If your email account can't push messages to your phone the instant the message is sent, or you can't respond in seconds, you have no chance of getting the deal.

Buying my personal residence at a discount allows for all of these things, plus instant equity.

It was quitclaimed to me so I would have to pay short term capital gains tax if I sold it instantly.