If you are at judicial sale then the property should be sold free and clear of all other liens.  

@Karen Polis: is this an upset sale or a judicial sale? 

Is it simply up to the sellers whether they'll let us have an in-depth inspection done before we put a formal offer in? 

Notice of Default is non-judicial. 

As for the formality surrounding distribution authorizations from the NAPT, such could be very flexible to meet your monthly expenses if necessary.

For example, in lieu of formal architectural plans, draw a picture (not joking), describe the thing (sq ft, amenities, etc) you are thinking of building, and throw some tent stakes or toys in the yard for the four corners where the thing if built would go.Appraisers, freed from the rules/requirements/etc that we force them to follow, often actually like doing private appraisals where common sense and quality can be king, instead of box-checking.

The buyer gets a property without having to go through a formal mortgage qualification process, the seller gets out of having to continue making payments, and we get a wholesale fee from the buyer.I think we will give it a whirl, just so hopefully it will open a new way for different people to get what they want/need.And yes, if it won't work, then it won't work and on to the next indeed!  

We haven't formalized anything yet. 

With those two building a real estate empire, or at least wealth, is possible.Most inexperienced potential real estate operators vastly underestimate the amount of knowledge and experience necessary for success, and the time it takes to gain these attributes.Some are able to utilize formal education to shorten the time frame, some utilize experience investing and operating small deals, and others go to work for a large real estate operating company until experienced enough to go out on there own.Although real property investing lends itself well to leveraging through borrowed money, or through passive equity investments of others, it’s not easy to find and close on properties at a purchase price significantly below market value.

I’d have them send a formal certified return receipt letter to the tenants of this policy notifying them of the late payment date whether it’s the 3rd or the 5th of the month and that if payment isn’t made in full by that date eviction process will begin.