Quite often the bank will bid up the price to whatever is owed to them on the loan and if there is a second lien then that lender might also bid the property up to cover their losses.Most likely you can just call the county courthouse and they will tell you all about the auction rules... after all, they WANT to sell those properties for as much as they can and that means they need buyers like you.

I use URLs quite liberally in my posts if I think the URL will help expand on my point.

Now, if you're looking to be the person who is managing a rehab or being day-to-day hands-on, I don't think that is the case but as a pure cash/credit investor and/or landlord, I think you will find that remote investing can be quite rewarding.If you are looking for some resources to connect with in other states, try this board of course or other places on the web (I like Craig's List).

We believed in the community and even though the numbers were not quite at cash flow, we bought anyway.

Try to get both the nephew and Aunt to sign a simple quit claim deed.  

I've been interested in REI for quite some time now and have picked up a few books from the library and bought some from book stores and haven't been able to put them down.

And secondly, will quit claiming from a personal loan to a living trust help protect the assets rather than having to establish an LLC?

I have never invested nor have I spoken with them for quite some time so I could be off on the details so please don't take this as gospel.

I figure eventually the corrupt board of the Condo Association will either quit or get replaced, and eventually new owners will overtake old owners in %.

To a certain extent, closings for this program are anti-climactic because our Firm Commitments are, quite literally, firm, final commitments with no conditions.