The agreement should say the seller will pay any outstanding taxes, liens, and fees from this amount.

However, I used to find debtors for a debt collection agency (not proud of that job but I made damn good money) so I know how to find people which is where my skills will come in and hopefully make some good money out of it.

Damn Briana shhhhh!

All payments under this Agreement are applied first to accrued interest and then to the balance of the outstanding principal.

Oftentimes in Sheriff's sales the final judgement amount is published whereby you can see how much the bank is owed, including outstanding balance, interest, late fees, legal costs, corporate advances for insurance, taxes, etc. 

Not possible unless you allow it to damn near consume your life.Stick to the suburbs would be my advice.

@Caleb Heimsoth damn that’s significant equity to buy into.

Home Depot and Global stone have some outstanding tile for $1 to $1.50 plus you can find some blow out sales at Big Bobs, really beautiful stuff. 

Because those that doing well is just lucky , get a damn good price on a great deal, or making sure there is much demand in that particular area or plan on buying many homes quickly to reduce their risk of any vacancies.   

Joe Fairless has an outstanding podcast as well.