@James Li, I will echo the others: different internal policies.  

It depends on the state.The Orange County website says this about tax auctions: "Pursuant to Section 3712 of the Revenue and Taxation Code, tax deeds convey title to the purchaser free of all prior encumbrances (mortgage liens, judgment creditors, etc.) of any kind EXCEPT liens specified by Section 3712, Lis Pendens actions and any Federal Internal Revenue Service (IRS) liens that, pursuant to provisions of federal law, are not discharged by the sale, even though the Tax Collector has provided proper notice to the Internal Revenue Service before that date.

If any interns or residents early in their training end up reading this thread, that is definitely a route to consider. 

Hey Everyone, I know there are tons of posts regarding seller financing but I didn't see any that referenced FIRPTA (and yes I read the bigger pockets guide to seller financing). So heres my problem: I am in talks wit...

Do they have an internal title company that does the Subject to title closings? 

Which still makes sense given there are still solid reasons for international investors to place money into USD backed assets. 

Even though the Assocation insures most of the building elements, you as the unit owner usually own some of the elements (determined in the bylaws) such as cabinets, sinks, sheet rock, paint, floor coverings, internal electrical or plumbing, etc. 

The key is to make sure it's structured properly with the internal costs. 

In the end, I found local small PMC that perhaps only has 20 units under management with one or two strong leader, is way way better than nationwide PmC with 50,000 houses to manage and depend too much into internal process,law or order.

Many international students rent here and after running some numbers and an analysis based on today's and the past trends, it would make a great long term rental as well as appreciate nicely for a sale later on.