When was it  written, when is the proposed settlement date, what contingencies are in it?   

He specifically said he heard of settlements being as low as $50.

You could also place an offer (contract) on the property with the condition that you negotiate a settlement with the tennants for them to vacate, voluntarily. 

Buy and hold is considered passive investing, and while you could tweak a business framework such as "property management" to make a technical fit with this program, it would be tax-detrimental to do so.

For others, the link is here:https://indianaattorneygeneral.secure.force.com/ConsumerComplaintForm I am truly sorry you got tangled up with MOrris.. while I hope there is some sort of monetary settlement for you.. the best I believe you can do is keep the pressure on... rip off report.. you should post your story there as well. its free and very powerful.business's that do this rely on the fact that many that have been wronged simply wont do anything.. we need folks that are principals to stand up to this. !!!

Some people need discipline and guidance and framework to succeed.

Any investors in Nj that can recommend a title company that has experience with handling these settlement/transactions I have a deal in Philly ( My first deal)  however the seller and myself live in NJ  so what do I do next and where can I market this property, since I don't have a cash buyers list yet? 

This is somewhat a big concern for me since there are accrued interests associated with the auction that I will be responsible paying at settlement based on terms Seller proposed.

I checked the closing settlement statement and there was no credit back to me for these delinquency fees.

You need to be careful that you do not subtract all of the closing costs on your settlement/closing statement.