If explanation is too lenghty, referral to any books or web references would be greatly appreciated.

So you want to screen for a good tenant/buyer and not just accept the first party who is interested but has little chance of ever qualifying for a loan and cashing out the owner.Also I strongly encourage you to consult an experienced real estate attorney to make sure you are complying with state laws (specifically your state's real estate commission laws). 

I live in Indiana, but want to market out of state, to specific states.

And anything specific that i need to keep in mind while participating in the bid ?

I'm happy to answer any specific questions you might have. 

The Assignment of Mortgage/Deed of Trust does not seem to have a specific allonge with it.

I’m not an attorney nor an accountant, so I’d recommended speaking to both of them about your specific situation.

Not that it's a reflection on his law practice, but I've seen how if we don't control what the world sees about us on the web, someone else will!

It is also area specific, depending on crime, vandalism and risk factorsI personally use Zurich Builders Risk Policy on my flips.

It's all about getting started in real estate investing and specifically how to start in Memphis.