I discovered Renatus when I responded to an add for a real estate job in Craigslist Las Vegas.

I've been searching on the forums here for awhile now, being referred by google, without realizing the significance of BiggerPockets; that is until I discovered the podcasts, and now I'm absolutely hooked!

Look up the owner to try and discover their situation.

Never use a quit claim deed in a sale transaction as you break the chain of warranty for title and a title company may not insure it (they make excceptions for lending institutions, but not for individuals). 

Do your due diligence and ask about such things as how long have they been in business, are alternative assets their sole focus, are they BBB accredited and rated, are they a regulated financial institution, have they ever been sanctioned by any regulatory bodies, how many accounts and how much in assets do they administer?

Germain Depository Institutions Act of 1982, which Brian linked above.  

We discovered that the property is paid and there are no liens

I have an undergraduate degree, two graduate degrees and also post graduate work, all from private institutions (which is why my debt is so high).

In addition, I have extensive experience working with banks and financial institutions in the disposition of foreclosed properties.  

I have purchased residential properties at foreclosure auctions and 1) you have to have cash in hand which no standard institution will do and 2) finding a good deal is far more work than people say.