If the property does not get redeemed, you'll have to be prepared to initiate foreclosure and if successful, you'll have to be prepared to pay of the subsequent liens and any fees associated with taking title to the property.If that approach is not attractive, start looking for a partner to step in and help with the finances or to take over for you - be prepared to convince them that the property is worth investing in.

These low down-payment owner occupant loans are very forgiving once you get to do your financial, physical and legal due diligence in order.I wanted to express my thanks for all the support provided by the various professionals I have been meeting in the real estate investor associations, meetups and casual one-offs, and of course, the BP community.Finally, for all the newcomers in the arena struggling to get your first deal under the belt, just be assured that with knowledge, patience, and positive entrepreneurship skills, be confident that you will ultimately do it.

Townhouses usually require less maintenance on the part of the owner/landlord since the roof, landscaping, snow removal, and common areas are cared for by the association.

@Joshua Kim Check with some local mobile home park owners in your area  as well as your local manufactured housing association.

Hey BP,Any recommendations people would have for Philadelphia or Montgomery PA REI Association that you have attended or heard good things about.

Here is the strange part though, I searched the property records and the deed instrument number being auctioned appears to be associated with a HELOC (Home Equity Line of Credit) that is tied to the original mortgage.  

Over the last six months we have started to resolve many issues for owners associated with OceanPointe property management. 

I was wondering if the additional fees associated with obtaining the loan are industry standard.Points: 4Interest Rate: 12%Appraisal Fee: $450-$500Budget Review Fee:CMA/BPO: $150-200Property Inspection Report or Site Inspection: $200Processing: $750Underwriting $500-$995Loan Set up: $250Construction Control Fee: 1% of escrowed amount and $175 per drawDoc Prep: $750-$1500If I'm doing my math right, I'm looking at $6,500 in loan origination, $5,500 (more or less in additional fees), plus escrowed taxes and insurance. 

@Dmitriy Fomichenko and @Brian EastmanThank you both for clarifying this rule and the risks associated with this type of transaction.  

@Katy NguyenVAC is usually associated with Vacant.VIC is usually Vicinity.Usually see these with lots that don't have a specific address.