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.

Are there any other fees associated with owning via the HOA, etc?

Social aspects of RE are not limited to low income tenants, far from it.Look too, for the National Association of Housing Officials and Redevelopment (NAHRO).Here are some organizations or other folks that deal in RE within their realm.Office of AgingAssisted LivingAdvocate Organizations for the blind, handicap, children, etc.City P&Z OfficesDept. of Defense, especially the Corps Of EngineersDept. of EducationDept. of Health and Human ServicesEconomic Development identifies blighted areas and funds redevelopment.HUD/USDA have social and economic skills educationHOA organizationsLook to your local United Way, they are often the gatekeepers for funding going to community service organizations and they will know non-profit housing entities that serve an area.Developers base growth from social impact studies, demographics are the social and economic movement of populations.  

You do end up with some water bills for occupied properties and have to chase after tenants for the money, but it does solve the problem of the fees associated with getting the water back on and the potential damage that could result. 

Next consider this statute: 475.42 Violations and penalties.—(1) VIOLATIONS.— (a) A person may not operate as a broker or sales associate without being the holder of a valid and current active license therefor.

"Millennium", Quantum", "Sylvan", "Idyllic", etc. and fashion that into a name by connecting it with "Enterprises", "Industries", "Associates", "Ideas", etc.One specific suggestion I will offer is to avoid names containing "properties", "investments", "holdings", etc.