I can even read the Indiana code and I see where the law says that.

Texas Tax Code 34.21 is the law that explains the requirements for length of redemption period. 

It will be interesting to see how this all plays out..what is sad though is the less than honorable house flippers that flip these inner city warzone properties to foreigners left and right and make a killing doing it...

The other hang up is that it was built in 1964, so there may possibly be code violations I will need to update such as wiring and plumbing.

Look up all the properties online in your wholesalers favorite zip codes that are listed as “under contract” or “pending” in the MLS.

However, it's not the wild west, business transactions are covered under federal laws, the Uniform Commercial Code (UCC), Security Exchange Commission (SEC) are usually the most applicable to real estate investors but there are various federal rules, regulations and laws that may apply. 

This particular home I know I'm going  to run into some kind of problem because the basement is mostly finished, but even I know it's not to code just from what I can SEE (let alone vapor barriers and whatever). 

The property is bank owned so they have little information but after talking to the inspector it seems it was condemned because the only form of egress is a staircase that is not built to code.

It was 2005, Chapter 5 of the Property Code, and they are now considered "executory contracts". 

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