Well, a foreclosed property is typically sold auction style - usually on the courthouse steps of whatever county the house is in. 

Then the attorney will go through the title and if there's something not quite clear or complicated, he/she will discuss it with an attorney at the title company, who is going to write the title insurance.In Fulton county (Atlanta - have not worked in other counties) the title has to be guaranteed for 30 years and I've taught myself to do my own title work ahead of time, so, that there are no surprises at closing.

Hi Sergiu,I'm a big advocate for writing goals down.  

They back everything they write up with statistics.  

@Karl Krentzel  on another thread that was going around yesterday there is a bunch of fraud going on right now with bogus buyers and sellers trying to snake small dollars out of investors.And for that reason alone many Realtors chimed in that their brokerages now require verified prequals before they will show property or write offers.. this to keep agents from getting abused and others getting ripped off by this new wave of Nigerian sucker stuff.And again along with the reality at least in our market No prequel and your not going to buy much if anything..

First, buy up a block of rowhouses or a multi unit just outside the ghetto making sure it has good public transportation.Do a quick rehab.Advertise for rent in the PGN.

As I write this, I had a second thought about the expenses. 

It is easy, you sign a listing agreement to find a suitable lease option buyer (there should be a state form in all the forms the Realtors print out that can be used. your brokerage fee will be a set amount payable from the TB's option payment and like any other fee it will go to the broker and she/he will write a check for your share. 

We sometimes even write up a new "Property Condition Report" and keep it in the file along with the old one.

The bank will likely want to write a new loan based on your credit, income, etc. and subject to a new appraisal on the properties.