One was allegedly going out of business, the second was a party who previously owned some of the properties I was purchasing (and subsequently forfeited them to the bank).  

I am on the York MLS system and subsequent portals so I'm fairly privy to general market trends, etc.  

Hi everyone, I am looking for a contractor in Atlanta for a relatively large scale renovation on a 1910 built single family home that has subsequently been split into a quad.  

If you can find "deals" for no more than $140k, that will genuinely appraise for $240k+ with just $25k rehab - you should buy them anyway, even if (only) to flip.The main point is: whether it's for a flip or BRRRR - don't buy UNLESS you reckon you can be all-in for less than 70% of its subsequent (anticipated) appraisal.

This (larger) mortgage was subsequently “modified”.

I know we personally have done much better with each subsequent house we have purchase than the previous.

Plus, since their monthly payment is so small I let things slide more than I should. 

The mortgage broker or lender will slide in a higher interest rate at the last minute.

Keep in mind that you will have subsequent taxes to pay if you choose this route. 

Foreclosures allow the municipality to recover these unpaid, overdue real estate taxes before the first, secondary or all subsequent lien holders.Now, the laws for banks foreclosing on back paid taxes is tricky.