If they're in 2nd position and even if there's substantial equity how could they move into any type of foreclosure??

If the deal is still worth pursuing even if he doesn't fix it, then close.Get a contractor out there and see what the cost is.

Even though your pricing might be competitive, the market in Rotonda West might have its quirks. 

It says "Profit = sales price - purchase price - expenses"  Even on the levered fix-and-flip deal example it gives the full purchase price. 

A lease created through Zillow or even one you write up yourself is legally binding in the state of GA.

Other things that are red flags for me: Their bios don't even mention how long they've been managing other people's money. 

@Rakesh Battula, before even looking at the true financials like Nikolas quickly did, there are some things that don't make sense:1: If it is 100% occupied, why are you assuming anything about free rents with estimates.  

For example, they send mediocre contractors, who sometimes don't even show up, and if they do, they don't seem to competently evaluate the problem.Any advice would be appreciated. 

And even though I know many people that have done dozens and dozens of deals over 15+ years, and never had a title issue, to me it is worth far more than it costs.

Also keep in mind that fees and charges matter, but a long term vacancy will hurt you more in the long run than a company who can better market the property even at a higher fee structure.