I am not a burn-the-boats type of person, and I am more productive with a backup plan.

The property is rented by DCFS ( department of child and family services) a government tenant and are occupying the building for last 30 years and have no plans of relocating.

Question 4: I plan on selling the property without a selling agent.

While this is not unique to foreclosures, and should be done for EVERY deal, I highly recommend you get full title insurance on a property.  

How you analyze these deals will depend what you plan to do with the property. 

Unless you plan to room rent long-term, you should make sure your room leases expire at the same time. 

I am planning to use Rentredi to manage the property.

My company is veteran owned and operated.I am interested in working with investors in the San Luis Obispo, Arroyo Grande, Nipomo and Santa Maria areas, but open to outside areas in California.I plan on getting my general contractors, as soon as I qualify to take the exam, to become an ADU builder.

If you do 5% down, you also have CMHC insurance which adds up quickly. 

Deposit Insurance Concerns: In many countries, bank deposits are insured up to a certain limit by governmental agencies.