If I were to buy their home, sure, the foreclosure is avoided and their credit is off the chopping block, but they'd still be losing their home.

RE can be very gratifying.Really helping a young couple buy their first home, making it work for them.Solving problems for others and really saving them from what they saw as devastating or an impossible situation like losing a home.Helping others getting started in some business guiding them to success.Being involved in community, providing safe and affordable housing, no hand out but a real hand up.Assisting people to get back on track in their lives from homelessness.Providing housing solutions through redevelopment cleaning up blighted areas for a better community.Forming relationships with professionals and laypersons that seek your advice is gratifying as well.Having the opportunity to pass on your experiences and knowledge, teaching others how to fish is also gratifying.It's not all about the money, it's more about your contributions in life, to your family and your community

you can't get a traditional mortgage (30 year low interest, etc) in a LLC,,,only individuals qualify for conforming mortgages,,,you can have up to 10 mortgages including your own home,,so slowly add a house here and there until you get to the 10 limit,,if done properly you can build cash flow up that will be flowing in and increasing with time and more properties.After you hit the 10 limit you will need commercial financing,,thats when the LLC will be needed,,,others will say form an LLC and put your rentals in them now,,but by doing so you are losing out on locking in the low rates we have now

What happens if you lose your job for whatever reason?

The tenant got an attorney from a legal aid agency to help her and the landlord ended up losing.

It won't be perfect and expect the renter will still be short and unable to pay the full rent, but a good tenant might be able to pay it or catch up.End of day you will probably lose some income, but gives the renter a chance to catch up and you time to find someone else to fill the space if need be.

You still need to do your due diligence as your title given from the auction has no warranty.Some options you could pursue are to approach the people who own the properties that are listed to be auctioned and offer to buy the property so they get something in return before they lose the property.

You'll have to determine if it's worth holding it for a month for him cause realistically you'd be losing money by holding it.

Even if you can separately meter everything and pass the cost on if the common practice in your market is to have the owner pay then you risk losing renters.I recommend starting with looking at other properties to determine what renters in your market expect.

BTW, under either, you need to know that the seller has enough to lose and has the ability to pay any amount arising from default.You can have a sale contract and a lease agreement, the sale contract can terminate upon default under the lease.