this is an auction .com property subject to overbid.. the chances of you getting this for that price are slimnot only that you will need non refundable EM of at least 3% and you have to close in the name that the contract is in.. no assignments this keeps the wholesalers at bay.. properties just don't sell that deep of discount in the uber hot Portland market.. at least not on MLS  heck lots sell for 100 to 150 k with nothing on them :)

It can even expose you to IRS penalties for non-compliance.

The advantage of having an up-to-date RE accountant, is that they can help you strategize utilizing tax benefits, that a non-specialist may not even be aware of.

Is it possible to purchase REOs soon after the loan servicer has taken possession, but before it hits the general public?

I am looking into purchasing my first property in pittsburgh and rent it out as long term investment.I have following hopes/strategies:- Safe area (B/B+)- Reasonable cash flow- Good appreciation potentialI am thinking following locations (which can totally be non sense)- Attract high income workers (close to IT hubs?

If you say check county court records, it still does not stop the elaborate thief from using a public record.

We normally get it as a credit, unless it’s held by a 3rd party(pm).You can consult the lease agreement for each tenant, if the LL says someone only paid some or non, you need to get estoppel forms signed by both the LL and tenant, or just risk owning the tenant money they never really paid the LL.

If you want a non risky challenge try and find a deal to wholesale, it has been hard on me so far and new pockets of chaos keep popping up in my pursuit of a first deal that have taught me how difficult it can be to find a good deal or do real estate. 

I've got the PM in place when I go to buy whatever is next.I'm glad the results of your contact with your local government was positive.  

Most of this non-legal advice in this thread is pretty good.