It's a lot like any other purchase once you win the bid.  

This can be a win-win-win scenario for everyone involved.

Then if heirs show up, you aren't in an equity position, you are a secured lender and win whether you buy it or not. 

My attorney emphasized that I should always have the phrase "jointly and severally" responsible for the rent.  

Those same conversations have emphasized that the ongoing MAINTENANCE (and other) costs are higher than expected.

One might jump on an opportunity to buy a vacation condo on the same block as the arena or the big stadium and unbeknownst to him/her when the hometown boys win the big game the obligatory riot must follow.

A term used by Warren Buffet to emphasize buying things that are undervalued. 

Clearly there are many ways to play the game and win. 

I win the bid at 102K.

OK so I am wondering how viable the more experienced guys think this is:I target older people on social security that most likely have their house paid for.I leave a letter from me introducing myself to them and making them aware that I would like to buy their house in a win win seller financing agreementI would tell them that by financing their house themselves, I would pay them a better return than any bond, money market, or savings account.