Typically what you see is:5-10% of gross rents collected (some set minimums in addition)50-100% of 1st month's rent for getting a vacant unit rented plus advertising (high in my book)50% of 1 months rent for lease renewal (complete rip off)Some will take a portion of late fees (bad)Many will charge you hundreds of dollars to handle evictions (even though they do nothing but call the lawyer who handles it all)Typically, they also charge $25+ per hour for handyman (who they likely pay WAY LESS)The fees are never-ending.

If you had a 1 bedroom penthouse with secure parking and other things that are not reflected in the data you will have issues.

Maybe there could be some sort of data base or sticky thread with that info.state county transfer tax (% or none)Yes, I agree that new loan docs will need to be prepared and signed.

Bidding blind will most likely produce a loss and put your further back than just collecting interest from a bank savings account.John Corey

If not, then I would suggest that you put your money in a CD and simply collect the interest.

There have been some comments I have read on forums about lenders stating that they will reconvey the security instrument only - and consider the note still collectible for the unpaid balance.

I am just concerned if they have a lot of stuff in collections.

You might save money in that you will be collecting a fee.

Because the fee you want to collect the lender sees as more money on the table that they should be receiving.

The loan as a result is deemed "current" and the deferred portion is collected when the loan pays off.This - and all other loss mitigation avenues - is becoming more commonplace in today's market climate.