The contracts explicitly state the length of the loan, interest rates, equity share, and procedures in case of a default.

It's important to figure out what your business strategy is, and what your value-add proposition is.I know that folks have been successful in each one of these niches in Philly real estate, just depends on what you are looking to do (in no particular order and just off the top of my head, I'm sure that I'm leaving a bunch out): low-income rentals, luxury rentals, flips, vacant land speculation, new construction, section 8/PHA rentals, wholesaling, wholetailing, bird dogging, turn key sales, property management, construction management, financing expert, zoning expert, title expert, business procedure consulting, hard money lending, seller financing, buying subject-to, syndicating deals, 1031 exchange scout, retail sales, etc.Personally, I've set up a pretty decent rental portfolio over the last few years, that's what made sense for my investing goals and setup. 

We charge a decent cleaning fee and are pretty specific with checkout procedures and setting an expectation, mostly based on respect.

They informed me today that they are not really experienced in dealing with pre-foreclosures procedures such as paying for back payments and taking title of the property and making the payments to the bank until it is sold. 

As far as courts holding county personnel accountable, I don't think there are so many mistakes at the county level, I think people just don't understand the procedures and the county people are not good about communications.

@Amanda Kwong, how long it takes depend on your default procedures and your attorney and the backlog in Jefferson County.1. 

I hear several time that I do not need to be an expert of the transaction and paperwork procedures, but I do need to understand what is happening and when it is happening ( we never go blindfolded for battle, right?!).

In some Alabama Counties (they all have different procedures to enact Alabama law)  this word will allow the buyer to record the deed without paying recording tax on the assessed value of the property. 

There are some circumstances where you could Willingly assume some particular debt, above and beyond the purchase price, if you thought you could perhaps negotiate it lower, after closing......but you normally pay just the purchase price along with some closing costs.But to your original question, buying a preforeclosure is the same as buying as any other house, cost and procedure wise.

While @Marcia Maynard gives solid advice, WA has a reputation for being super tenant-friendly; whereas my experience in NH is that our courts are less inclined to tell landlords what they can and can't do with their own property, so long as the proper procedures are followed precisely and the landlord adheres fully to all applicable statutes.If the tenants are in a lease term, they can not be evicted for cause not stemming from violation of lease provisions, nor should they be; as they entered into that lease in good faith that they would have a place to live at least until the expiration of the term.