This happens occasionally, a defendant files BK, the court is not informed or simply fails to delay the auction. 90% chance the sale was not supposed to occur, you get refunded your money.  10% chance the court validates the sale, you get the property.....you come out whole either way  A side note....if you thought homeowner’s insurance could possibly cover the loss, if there was one, you simply don’t understand how insurance works.....which makes me wonder if you know all the risks with foreclosures, which is Much more complicated.It’s good that you bought title insurance after the sale......but much more important to do a title search Before bidding, as if there is a title problem, you can Not buy title insurance after. 

Occasionally there are properties that come available in the Tampa are in your budget. 

I’ve lurked around the forums occasionally over the past couple of years and haven’t been active, but I’m making it a point to be more engaging to surround myself with like minded peopleI’d like to share a bit about myself.

I don't get too many "young singles" but I do get occasional "empty nester" tenants who either want to (or need to) downsize.

My interests are single family and multi family rentals and I’m considering flipping occasionally for that shot of cash when needed.

We plan on starting small with our focus on renting small MFH (Duplex-Quads) but also the occasional renting and/or flipping of some SFH.

I am a member of California Association of Realtors and regularly attend local meetings and events in addition to WCR & YPN events; occasionally BIA.  

@Subhash Reddy my parents grew up in Castro Valley and San Leandro and I still have grandparents in SL so I get down that way occasionally.

So, if you have good tenants that occasionally run tight on cash and they get paid on the 1st you may have to adjust your grace period slightly.If you rent in low income areas -- where tenants often don't use bank accounts -- try a service like Pay Near Me that lets them pay you from 7/11 (or the like) with a cash deposit.

So wave goodbye to rigorous screening, evictions, issues with rent collection, the occasional $5K unit turnover, etc.