I am considering buying a sheriff's sale / foreclosure property at the courthouse steps at the foreclosure auction for the underwater mortgage. 1.

My name is Marina and I have found myself in a unique situation that I need advice on.My cousin put an offer on a foreclosure about 6+ month ago and it just got accepted by the bank.  

Aggressive pricing usually means a foreclosure, HUD, tired landlord, estate sale, short sale, or basket case. 

I have an inside line on a SFH that the bank has initiated foreclosure on.  

A friend and I are doing our research on getting into wholesaling (reading book, forums, etc.) and I was wondering if anyone could offer any advice on wholesaling (foreclosure homes in particular) as far as tips on finding serious buyers.

If the property is really underwater I would expect that the trustee would just grant a relief from stay for the creditor to file a foreclosure, but I am not as sure on that as it would be optional for the trustee to do this. 

Usually this means a distressed property, estate sale, foreclosure (may involve a LOT of rehab work) (my understanding is these are slow moving deals just to get to the closing table).Buy and Hold and BRRRR are similar.  

In Georgia the foreclosed owner has no recourse after the foreclosure sale but I know in Alabama they have a period of I think a year to redeem it.

Last thing you want to do is deal with issues down the road when you can be reported or perhaps borrower can use this as a defense in a foreclosure if they can't refi or payoff in 3yrs. 

Heaven forbid something happens, if they owned it I would have to wait a year (I think) before proceeding with foreclosure on the property vs if I owned it, I could do whatever I wanted with the house and any point I so chose.Am I overlooking something here?