Usually a Co-signor will need to be included on title, so their interests can be terminated upon a foreclosure action.  

The action will go into overtime if there is active bidding in the final hour and the reserve has not been met.

Midwest welcome backCongrats on taking steady action

There are deals to be found - I've had some success with courthouse step foreclosures, but generally they make sense for flipping, not buy and hold (after rehab costs), since rents just aren't high enough to satisfy any of the "rules of thumb", be it 1, 2 50%, etc.One of the challenges in NorCal is that too much of the money is derived from few industries, so there is a lot of sensitivity to fluctuations in those areas with resultant impacts to the RE markets.

I'm glad to see you taking action by reading those books!

As a side note, here in the Metro Atlanta, Georgia area, I have received various “official” notices in the mail with a very strong call to action.

The true key to success is"Be consistent and take massive action"!

Explain to the tenants that didn't pay there rent that the previous owner paid your rent for the month as per the written contract and explain to them that you will enforce the lease and that if you don't pay your rent the next month, the 5 day notice will come and you will follow through with court action.

Because it is a short sale, the Seller is taking the action to try and sell.

How long is the duration and how sensitive is it to market cycles?