The LLC is a formal, legal document that spells out who owns how much.  

A judicial sale is conducted under the guidance and control of the courts. 

Full disclosure, all cities have them problems, and I've invested in four major cities, but Detroit seems to be at the top end of problem cities (crime, employment issues, tenants who know how to work the judicial system, bad property managers, etc., etc.).  

A corporation requires more formalities to run however.If you are considering buying an existing LLC that holds rentals keep in mind you are buying all the liabilities of that LLC.

The only reason for EM is to formalize the contract.

@David Dachtera  - Power of Sale is somewhat different than foreclosure - it's non-judicial (no going before the courts, but there is still a regulated process to follow) and generally faster from start to finish.   

Many judicial states require the courts approval to stop the foreclosure action.

A disability needs to be established and approving the request will afford them with an equal opportunity to use and enjoy the unit or the property.With all reasonable accommodations, I have the tenant submit a formal request (in writing) of exactly what they are requesting.

I believe NY is a judicial foreclosure state, with as I recall, fairly lengthy times.  

All brokerages are different and the biggest difference I have found is some require one to be full-time and some conduct formal training in addition to what state requires.