Basically they are just telling you "what you see, is what you get" and after you close they don't want to have anything to do with it.Clean title is not a concern with an REO (if it is one - the listing will state REO/foreclosure on MLS).

My main concern is the eviction process.

We don't charge a security deposit for this apartment because we aren't so concerned about the apartment being damaged but we are concerned that a dog might damage our cat so we'd prefer to avoid that scenario all together.

I would be more so concerned with insurance.

I went down yesterday to ring their bell (it's second floor of a multi-family) and no answer.Should I be concerned?

The issue was the underlying zoning had changed to commercial over the years and the concern was that the property couldn't be rebuilt if destroyed....I only use that as an example to say that asking what the issue is the best way to get your answer.

I'm still fairly new to this process, but I've walked over a 100 houses, which has given me some confidence.One way of thinking about it is the big dangers vs the annoying bits.

However, I am concerned about our financing. 

As far as investing is concerned as long as a property meets my goals and the numbers work, I'm buying.

One of the main concerns the seller has is how to guarantee that I will maintain the property.