If equity exists, you may be willing to purchase the property 'subject to' the existing liens and take responsibility for their satisfaction.If you buy at the foreclosure auction, which should be remembered as the forced liquidation sale of collateral, whether by judicial sheriff sale (or non-judicial trustee sale, in other states), you must perform your own due diligence, including researching title for other senior liens, in addition to valuation, repairs and occupancy status.If the property goes to sale, reverts to creditor (rather than a 3rd party bidder) then that creates a situation whereby the creditor/bank turned owner may sell the asset, but not before.

He forced appreciation to $141,000 but only has $102,500 into it.

I looked at a property and never saw this kind of heater before - I thought it was a gas furnace- I am told it is a huge gas space heater that is old and probably no longer meets code - it is in the 2nd floor of a 2F - there is no ductwork for forced air or even intake - so I am wondering how much this thing might cost to get replaced to code in upstate NY near Albany - there is an attic.I dont have a brand name or anything but am trying to get one - the furnace is huge - like 4 ft x 4 ft x 2ft with an exhaust vent pipe out the wall.any experience with this?

Will force them to get out there ,and educated them selves on this business.

A Buyer/Borrower may be able to force a Seller/Lender or assignees to defend title regardless of the use of QCD.  

As soon as they do 1 or 2 successful deals, it is painfully obvious to them that they can raise the money elsewhere for much cheaper and they go off on their own.You are forced to start over with a newbie and more of the newbie deals blow up than you wish.

This will then force you to refinance when rates are higher (most likely) in 7 years.

This forces lower income earning individuals out of the area.  

Also, you may be forced to lower rent to uptick occupancy, which will alter the basis of your analysis.

A landlord's relationship with the local PHA isn't public record, so even if they leave it to the HOA to enforce, how do you force someone to tell you if a tenant is on a voucher program or not?