So I call the bank (REO property) and they agreed to secure and give me access to finalize appraisal, but this was not a requirement for them on the conditions of the sale.

Their fees are reasonable and they provide quality renovations.

This is advanced rent and is treated similar to a security deposit.

My plan is to hold onto it as a rental property, targeting Section 8 tenants, as the rental income is quite attractive at nearly $1,500 per month.Here's the challenge: The property's purchase price and labor is below $40,000, and I'm uncertain about my ability to secure a traditional mortgage for a property at this price point.

However, securing a loan overseas could take up to a year to close.

It’s often sold as an alternative to larger security deposits or co-signers for people with bad credit bad rental history.

@Ismael Ayala Jr.Why not just go to the county website where they provide the tax info ?

Be sure and send them a final accounting including the security deposit to any forwarding or last known address. 

Wondering if anyone here has experience with the team and can provide some insight?  

I'd recommend nothing shorter than 5 years.Regarding your specific questions:1) Yes, any competent closing agent (title company or attorney, depending on your state) can prepare the note and security instrument (security deed, mortgage, etc.) you need.2) See 1.