To top it off, there appears to be no stamped serial number on the boat trailer.

Terminology appears to be a big part of it alright, particularly for me as I’m coming from Ireland originally and some things are done a bit differently.

Great options offered and the main concern appears alleviated. 

Defaulted loan was a VA loan originated in 2016, appears to be in decent shape but will require minor updates (paint, locks, etc.) and needs a refrigerator.

This appears to be seeping up from the floor, but I've yet to catch it in the act.

If the house appears vacant I'll approach the front door cautiously until I can tell for sure the house is vacant.

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Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Curious, I decided to walk through the property and it appeared whoever was living there up and left. 

If you're targeting young professional no sense in looking in the burbs with good schools.You can always adjust and refine your search as you go but if you try to do everything at once you will have to much noise and it'll be hard to evaluate the deals for what they are on apples to appear basis.