I've rejected more than one applicant I might otherwise have accepted based on facebook.

Hah my bad - I won't post the website name but its on the Thurston County Treasurers webpage. 

Sometimes locally owned banks will have REO properties on their websites... but not often.

Our offer got accepted!

I would not walk from the opportunity if the $25k is a real number and meets the minimum you are willing to accept for the risk you're taking.

If the tenants are on an 18 month lease, you run your analysis using current rents as projected income. this lowers your purchase offer, and punishes the irresponsible landlord for offering an 18 month lease at below market rents when he planned on selling. if the lowest price he is willing to accept is calculated using market rents, then you compare your risk aversion and capability to carry the property at a loss for 18 months to determine if it is worth buying still. likely not depending on how far under market rents are.

I am sure someone else will touch on the subject.The search bar at the top will become your favorite tool on the website, wish you the best and keep pushing toward your goals.

That and there's no consistency or rhyme and reason as to their acceptance/denial protocol. 

Hi  every one here on the greatest website on earth.I am planing to buy my first property in Newark NJ, it's an REO and i am planing to do the BRRRR strategy on it, and I'm a little bit confused so i would like to know what are the steps that i have to do what is first and what is next.I know that i have to take a property inspection, and i am planning to take a contractor to give me a estimate on the rehab.So whats next?

We have an partially accepted short sale offer there now - Fingers crossed!