In the event the auction does not give way to a bid equal to or exceeding the Mortgagee's minimal bid, then title will be issued from the county to the Mortgagee upon the expiration of any post sale redemption period, if any.  

The original investors would take a bigger hit than necessary with limited buyers...or does he have an acquisitions team and buys the properties to resell at cost or minimal markup...covered by the 30k bus tour?

I am in the process of preparing and Im quite sure that there are gonna be few things that I will miss to look out for or ask initally so Im hoping turning to you my fellow BP'ers for advice will minimize that.

Otherwise, you have to keep it for the length of the loan, regardless of loan to value.I financed my 4 unit building at 3.5% down for 15 years (to minimize impact of MIP for length of loan).

I guess it would depend on your area if that is acceptable or not.I have a nice laminate wood in my personal kitchen (open space, also wanted continuity) and it looks great and seems to hold up to the minimal water pretty well, but does NOT hold up to things (silverwear, cups, etc) being dropped on it. 

MOst likely if you seller finance, the end buyer typically puts a minimal amount of downpayment which is seldom enough to pay off your Hard money lender.Also, the high interest rates are not suitable for holding for long term because the net income produced by the property has to be extremely high to cover the debt & operating expenses.The proposed exit of selling your note will be challenging as well because as a note buyer I will tell you, note buyers want adequate equity cushion to protect their investment, and they want a decent yield on their money as well.  

Is it unheard of to pay FMV or slightly less on a property that needs minimal work and you just want to cash flow? 

The property is to be sold in a public forum, usually a Sheriff/Courthouse Auction to the highest bidder who exceeds the minimal bid set either by statue by Tax Lien or bid by Mortgage Lien.  

Do they have all the FL business licenses and can they show minimal compliance with Florida mortgage brokerage law? 

The previous owners have had pretty minimal vacancies in the past five years while using a PM so I'm thinking it will be closer to that 14K@Christian Bors thanks, I will have to add those numbers in and see how it looks.