should i secure a mortgage?

Looking to bid in a few days on a Primary Mortgage lien,  it appears that there was an COA Lien which was filed with county on 11/22/22.   

If I bid and win on one of these auctions and there is no other foreclosure pending, do I get Title to the property and then negotiate with the lender to assume the existing mortgage?

I've calculated the mortgage payment to be around $5500/month with a 6.6% interest rate and 20% down so that means the property will be in a negative $1600 without even counting capEx, vacancies and other fees. 

Try going for a fixed rate mortgage.

Purchased for kids future/college fund (maybe relevant maybe not) Mortgage rate is 4.4% currently paying $1149 a month (including taxes/Insurance)Currently rents for $1550 (room for upping rent to $1600+)In the 2 years Ive had it, Ive added a roof(insurance claim),new windows, new bathroom, plumbing.

Or do I just delay getting a mortgage longer?  

If I did an FHA loan and paid little down, the mortgage payments would be insanely high right?

Hello,assuming 1st mortgage forecloses and it also names HOA as defendant.if there is a surplus above the final judgment of the bank, will the surplus cover the HOA liens?

Learned some hard lessons about mortgage details, contractors, importance of moving with speed, and dealing with property management companies.