For appliances and other personal property used in your rental, the class life is five years, not seven.

If I don't sign and claim to be an investor, will my offer be automatically rejected?

I assume the suit is to foreclose.The BK filing will give you any automatic stay for 90 days.If you file the BK, any rents will need to be paid into the BK.I suggest that you consult a BK attorney to see what your options are.

A RE background is not necessary although it would speed up the learning curve.

My competitors that do not have websites are at an automatic disadvantage as 92% of home buyers are starting their search online and sellers know that and do their homework on you and your web presence prior to meeting with you.

Cash or closing fast means nothing to HUD.I have bought several HUD properties with cash but have learned that it does not speed or increase likely hood of winning a bid.Look at sites like www.hudhomestore.com One more thing, if you offer above the listing and use a mortgage then you will need to bring the difference between list/appraisal and offer amount in cash to closing, so be careful.

And the renewal terms should have a built-in automatic rent increase when the lease renews; don't be afraid to make this a 6% to 8% increase per month.

In that regard, he was able to go to the bank (couldn't do it online >$1000) and have them setup an automatic transfer to my account on the 1st every month.

In a recently purchased SFR in which the tenants will be covering all utilities, I have been asked by the gas and electric companies to enter into a Utility Continuation Agreement so that the utilities  automatically go back into my name when the tenants move out or terminate service.  

Just because you have something or not doesn't mean an automatic YES or NO.It's all situational.