I have a question for all the BP experts.I am fully aware (and abide by) all owner occupant requirements when dealing with any type of government owned/marketed homes (HUD, Homepath, etc).However - I ran across a new listing today that is simply bank owned (national lender) in which they are forcing a 14-day owner occupant only period.  

What that means is that they will simply bump your interest rate higher as a way to pay for the closing costs..so instead of a 4% loan you might get a 4.25%.

Although in many cases corporations will simply buy the properties and become the landlord as well as employer.

I was planning to give an official 30 day notice to vacate on February 1st, but if they simply don't pay rent and don't respond what do I do?

There is more to good abstracts than simply checking the subject property.  

Originally posted by @Robert T.

The high bidder in these cases is simply put "into contract" on a short sale with all the baggage that entails.Very rarely will an individual owner place their property on auction.com, this my doubts that's what's going on here.

Some, such as the one I work for, hire their own manager, some try to simply manage themselves, and many use a PM.

@Jimmy Moncrief, @Tanzeela Qureshi @Adam T.

Simply talk to a FHA lender.