Its not 100% but close.IF you plan to flip (holding < 1 year for possession & renovation) in a non-Judicial state, then it DEPENDS.It is always much SAFER to buy title insurance, so you won't go wrong doing it, but I am assuming you want to save a few $1000s by not getting it.  

The security deposit is deposited into our security deposit trust account and remains there in its entirety until a future point in time when we regain possession of our unit. 

But one day of post-closing possession... and your 75-120.3(d) "shield" is out the window.

Let me clarify...I assume the home is still in the foreclosure process since the bank has not taken possession of it yet or listed it with a realtor.  

I believe your marketing must reflect how the specialized knowledge that you possess can/will solve your prospects problem(s), primarily through using your expertise to build trust. 

The process of moving the property from the ownership of the owner to the state's possession (not necessarily 'ownership') is called Escheatment.

When the Mortgagee takes possession of the deed, they are now the formal owner and they can rent the property or sell the property or do what ever they deem fit.

I would set a date 10 days out after possession of a condition sheet checklist and do a walk thru of each apartment, give them copy and this is what you base your security damage repairs on, from that date.

Buyer will be responsible for the possession of the property upon closing.

Bidders need to factor obtaining possession post-sale as well as unknown condition into their numbers.