It is really nothing more than the standard risks flippers take in order to make a profit worth taking that risk. 

Neither will the other title company in town.Here is the timeline on this parcel. 2013 - Collector's Deed issued to the city due to a lien placed on it for the expense of demolition of condemned house2016 - Declared excess property by city2017 - Sold at auction to an acquaintance of ours who intended to build on it9/2018 - Owner changes his mind about building and agrees to sell it to us for $5,000Now, $5,000 is no big risk to worry about someone clouding the title by claiming that proper procedures weren't followed and trying to redeem it, BUT we plan to put about $120,000 into building a duplex on it. 

This investment only makes sense as an investment under the following conditions:You can support huge negative monthly cash flow.You expect significant property appreciationYou expect significant rent appreciation.This purchase would have a huge amount of risk and I only see the upside if the appreciation continues like it has for the last 5 years which I think is unlikely.Good luck

That will depend upon the condition of the properties you buy, and your tolerance for risk.  

That way the new owner takes on the risk of a downturn in pricing.  

The biggest risks inland, like Columbia, are flooding and possible tornadoes.  

Here is an informative video. http://www.marei.org/marei-partnercast-003-avoid-t...and more info. for wholesaling in Alabama http://www.cloudwillis.com/2017/11/01/interested-in-real-estate-investment-with-minimal-risk-consider-real-estate-wholesaling/

As it pertains to the two units downstairs that I usually rent on a long term basis, I've come to the conclusion per guidelines I've read from FHA that they don't care as long as the risk of me AirBnb'ing my own primary residence isn't there. 

I was more or less thinking about it as providing a one up to competitors, but did not think about the risk involved!

Considering all the above, it kinda of has more risks than we expected.