Depending on the circumstance, in some cases it can be seize the property first, ask questions later.

And as @James Wise alluded to, what good is a penalty of zero - somebody neglected to fill in an appropriate amount in drafting that lease. 

I know there are different circumstances surrounding each type of these properties, but are there successful strategies in obtaining these properties before they hit auction at the courthouse steps?

The property is owned by Bank of America, and they have a strict policy that under no circumstances will the water be turned on at the property.My mortgage broker says that it is impossible to get financing on a property without the utilities turned on. 

Totally different circumstances, but most days I feel lost, without any motivation.

I neglected to mention that the primary focus of our business will be to buy and hold SFRs.

The main keys are to make sure that your IRA is a limited partner in the transaction.Buy and hold can be very successful in an IRA under the right circumstances and correct portfolio of properties.

I was trying to find a way to loan myself from my SD IRA or a solo 401K a lot more than 50K.These transactions can be made with yourself but with the use of LLC's and your Self-Directed IRA cannot under any circumstance become more than a 49% owner of any LLC, or business you invest in.Here is an example of how this works.If you own the current rental properties in an LLC and you are the 100% owner of the LLC you can legally sell 49% of the LLC company to your SD IRA and raise funds that way.

., we are more forgiving of because those are generally unforeseen circumstances in people's lives.

Credit, it's not so much the score as the history, what circumstances may play on any late payment on anything.