That being said, you'll have good luck reselling this in good condition back to the MLS for a profit.

It sounds like you want to buy a home for cash flow buy and hold, not to resell.

Jake, I'm gonna jump in and answer your question- It is not legal, Yes I know on the outset of it that it sounds pretty legal however it might look as if was a buy and bail situation- the mother owned the house prior at a DIFFRENT market value and obviously could not afford it that it fell into foreclosure.If someone buys it and resells to the son who was always living in the property then the lender got defrauded because the occupants haven't changed but the mom is now free of the debt and in this environment instead of owing say $150k the son may only owe $70k because todays fair market value is diffrent from when the mother original bought it.If the son can afford the house at fair market why couldnt he help the mother so the house didn't go into foreclosure.

--Condo's can be hard to resell and get financed.

I alerted both lien holders to the fact that I was an investor who would immediately market and resell for profit.

In addition, you'll have difficulty reselling down the road and you may have difficulty getting a mortgage or doing a refi.

SOMETIMES homepath has a deed restriction saying you can't resell for so many days.

I am planning to invest in properties in Metro Atlanta that I can rehab and resell.

Sell it very quickly for a profitAdditionally, I need my own financing, which I hope to secure through a hard money lender so that I can re-sell quickly.Now my questions are:As far as the actual sequence of events once I find a willing homeowner, is this correct?

and then resell whenever the price is right.