Remember, Federal law doesn't permit them to BROKER sales, but just like any other property owner, they're afforded the legal right to sell their own property without a license.

Operating expenses include taxes, insurance, management, maintenance, vacancy expenses, advertising, utilities paid by the owner (at least during vacancies, rehab, etc), evictions, court costs, entity maintenance, legal fees, common area upkeep, lawn care, snow removal, office supplies, damage done by the tenants (in excess of the deposit), lawsuits, capital expenses (although not technically an operating expense), etc, etc, etc.

I'm assuming that if they default I can resell the property again and start all over after the legal process is done.

I am just stating that I have no legal interest.John Corey

It is a legal change of ownership.

Be careful about being too cheap with legal documents.

That makes sense, the auction is the legal milestone that puts the property up for sale so it would be illegal to bypass the foreclosure process.

If that doesn't work, I would simply wait and see if they want to proceed legality before I spend any money.

It can get messy if you bring a stream of people though.2.

Focus on flipping, being a legal birddog and wholesaling.