In full disclosure, I now work at Avail as well (got the job after I switched). 

For the most part, yes, REO's are sold as is and in California, at least, the bank's agent will sign a disclosure stating the sellers have never lived in the house themselves, so they don't know anything about it's history/condition.That being said, I have found some exceptions to the "as is" condition.

In full disclosure, we're in professionals in the real estate industry, so I don't have a 9-5. 

Oh and last question, any information from the realtor/owner/rent roll disclosure on vacancy rates in the past few years or so?

Have some kind of disclosure that the seller signs which acknowledges you are not representing them in any capacity even though you are a licensed agent.

Full disclosure, he's my brother, so I'm a bit biased :) 

Be clear in your disclosures either way.

Just my opinion.Full disclosure:  I am not a lawyer

The lease and disclosures are tougher IMO. 

Does not having a seller disclosure pose an issue when trying to figure out ARV for wholesaling or flips?