Newbie to RE investing but as I own a  small business my current accountant doesn't understand real estate and has been late in filing my taxes the last couple of  years.    

As a developer, it's important to have an understanding of zoning and some sense of how much you can densify a site.

Please help me understand how this works,  and if i can realistically get this completed , the Auction ends tuesday 

HiIf I buy a foreclosure from the second position for say $200,000, subject to first mortgage of lets say $300,000, and then the first position forecloses - my understanding is it forecloses the original owner, and not me.At this point,  can I pay the lender their $300,000 to prevent foreclosure?

You're current tenants will likely need extra time if they have been accumulating things for a decade or more.I would probably combine both of these to increase rent $50/month for four months with the understanding that there will be an increase each year until it is closer to market rent.  

Since you are not licensed at all, you need to make sure you understand and follow fair housing guidelines for you area.

We would suggest working with a local community bank that can understand your overall financial picture, and structure a line of credit based upon your available equity and your ability to re-pay.

We are am working with a knowledgeable real estate agent, but I was interested in input from Bigger Pockets to get a fuller understanding of the challenges and opportunities. 

Also, you need to find a mortgage person that understands what you are doing and is investor friendly.

Luke.It is my understanding that "acts of God" do not affect them cancelling you.