I think the market is sorta leveling out around here and in some cases softening (correcting).

I would have to get a 203 rehab loan , correct ?

Basically it's set up as 2 condos instead of a multi-family so no one could get a mortgage to purchase the whole thing.We were able to come in with a substantially lower bid since we can pay cash. 

If you're confident enough and have corrections it's still a risk, but a safer risk.

If you're putting in the most acceptable bid to the seller, you should win.

You may even end up bidding on a second mortgage, so make sure you do some title research before you buy. 

I am assuming that tax certificates do not have to paid in a sale, correct?

@Amy Hu if I understand correctly, the apartment buildings are taking 10 months so far for completion?

I would imagine any delay/extension was reviewed and approved by all parties, correct?

You just have to know what to look for, and how to run your vacation rental correctly.