It could appreciate but I consider that gambling.

Waiting for appreciation that might not come the way you want is a big gamble. 

The project was the invention of the Web.

It also includes common forms that you can edit and use.Their web site is a free resource with links to your state law but I highly recommend the book for some of the practical advice they provide.

@Jimmy Woodard the city is built on tourism and gambling revenue.

§https://www.hudhomestore.com/Home/Index.aspx§http://foreclosures.bankofamerica.com/§http://www.bayviewreo.com/§https://servicing.chase.com/REO/Property/GetAdvancedSearch§https://citimortgage.res.net/§https://secure.bbvacompass.com/properties/§https://www.homepath.com/§https://www.21stmortgage.com/web/21stSite.nsf/locating?

Now the problem with online bidding is similar to gambling slot machines; there is an algorithm that balances the win/lose ratio (or so we think). 

For three (and this part is the biggest gamble), I believe SD's future real estate market will continue to perform as it has for the past few decades. 

That is... agent works in state A and can't bid on properties in state B.I have read a ton of stuff on HUD's web site - but have not found any stated restrictions regarding limitations on geographic locations.Are there any?

One or two of the more tech savvy  tenants even enter their own work orders on the web portal that comes with the software.