Our company professionally manages this strategy which is unique because most management companies won't touch this strategy. 

I am talking about the management over the GC (a project management company that the rehab lender is comfortable with).

My company has invested in many properties in the DFW area.

Multiple, billion dollar companies are investing into our area, such as Intel, Google, and Amazon, due to reasons such as lower costs on land, great tax abatement opportunities, and an attractive cost of living for employees.

You just need a good management company.

We would file a debt action (your PM company should do this for you) and get the judgment and then attach wages if you know where they work. 

I can refer you to a company I use to handle my lending and note investments. 

I am a real estate agent in the Jackson area and my top three title companies/closing attorneys I use are Luckett, Purvis Law Firm in Jackson and Elliott Law Firm in Flowood.

Our regular insurer, State Farm, does not do such coverage anymore, and after checking with several well-known national carriers, I found only one that offered it, but the lead agent couldn't be bothered to put the details in writing in an email.There must be companies that specialize in this kind of coverage, I figure, and there must be other property owners in a similar situation who have such insurance. 

You will have to pay all the usual expenses associated with buying a property: transfer taxes, government fees, title company/attorney costs, as well as a "hammer fee" which goes to the auction house.In theory yes, you could win something for a few thousand dollars.