I would take these actions to get started:- Research and read forum posts on the subjects you are interested in.

Keep in mind, if you go with new bathroom flooring and tub replacement, you have to rip out the tub, toilet, vanity and replace/ install alot of items including the tile surround likely.

I would consider asking the seller to remove the tank and get a "no further action" certificate from the State Environmental office (that's what it's called here in NC - not sure if it is the same in NJ but pretty certain there is an equivalent.

I'm taking action and creating a marketing plan with my new wholesaling future however I want some feedback about being covered and creating an llc and facing insurance.

Probably the closest I can find is this: http://commercialforeclosureblog.typepad.com/indiana_commercial_forecl/2008/10/indiana-delinquent-sewer-fee-liens.htmlThere is a bill to reverse the ability to put a lien on a house for a tenant's unpaid bills, but it was just introduced this year and I don't see action on it.

However the value of using the GC for the first few repair estimates is really helpful in determining an accurate ARV.Your right about taking action.

The buyer has to qualify as well.In practice, bank financing is almost non-existent so your best course of action is to negotiate a low sales price for a cash purchase from the buyer and find exit strategies that would suit your needs.

It may not be an actual foreclosure proceeding, it may be an "ejectment" type action, which is somewhere between a foreclosure and an eviction.

Sounds like you have had some help and understand deal evaluation so that is first and foremost, you are working with Jerry and are taking action on marketing and your phone is ringing, so you have done more than 99% of people so kudos there as well!

There really is no right "special secret" of what to say when you call but just be genuine, take action, keep at it, then adapt as needed.Best of luck!