I am interested in purchasing a townhome that was listed by Fannie Mae in 2012 and didn't sell.

@Jon Holdman  alienation clauses are in the Mortgage not the note... generally... note is promise to pay and spells out the terms of repayment etc... of course some have dual purpose language but mine that I do all have the alinenation in the mort or deed of trust or deed to secure debt that is recorded giving the world notice that if title is alienated that that is an event of default and at my sole discretion I can call all sums due and payable.

Has no one given the tenant a legal notice to "Pay Rent or Quit" (or the equivalent for your jurisdiction)? 

Notice Antonio's comment.

If you notice in the article the community leaders plan to extend the boundaries. - Big opportunity.  

I know that I would run a risk of something not being covered if there was an accident but I think I would much rather take that risk than have my insurer send a notice to my lender pointing out that I transferred my policy to a landlord policy prior to one year passing.Unless I’m not seeing something, I don’t think there’s any way that my lender could find out that I am not the primary resident over such a short amount of time if my insurer doesn’t tip them off. 

Check with the issuing authority of the condemnation notice (usually the town's Building Dept.) and see what it will take to get removed from the condemned list (it's usually just issuing a letter promising to have the place fixed up within x amount of months).

Hi all,I noticed a Foreclosure sale happening and it says "Assessment Lien Foreclosure Sale".  

If the agents you noticed were dialing through zip codes they were probably using something like Cole Real Estate Resource/ Cole Directory.

Unless you have a lot of experience in remodeling/rehabbing, there may be issues lurking that you might not have noticed.