I want to maintain this lifestyle and ability to travel, as I did in my last position before my current one.

The final step (this would normally be one of the first steps but not with COVID) is to attend local meets ups.

If it is an REO then it should be basically a normal transaction.

But we don't know if this is on a rental or your primary (though I'm guessing your primary), or the value of the house, or your equity position, or the LTV the bank normally loans at, so it's hard to comment about that.  

If so, title should be fine as it is basically a normal purchase.

Lots of people in the Bay Area are selling townhomes and condos right now, because the “Cramped Covid Condo” lifestyle is not what they signed up for.

Also given that it would be a brand new property, we would assume we wouldn't calculate for normal maintenance, and capex for awhile. 

This is what you get when for decades you pursue a policy of endless "California lifestyle" of single family homes and single-occupant automobiles connected by roads wider than any reasonable person, except for a traffic engineer, would ever conceive of.Our politicians are business owners and landlords too, of course they want to perpetuate the status quo.

Properties on or near the water (TN has gorgeous lakes & rivers) are hot as people edge away from big city & Draconian Covid restrictive lifestyle.

Flip income is considered short term capital gain which is taxed at your normal tax rate.