You would need a simple sales contract and a great title company contact.If you would like I would be happy to chat and see if I can help you achieve your goals.

If so, is there anything stopping you from going out and looking at properties available for sale?

I don't like IRR because you have to speculate the sales price which you just can't know. 

It’s just like any other sale only they will scrutinize your preapproval more than a typical seller.

Why so much less than at final sale?

Great metrics available for rent to sales, etc.4.

When meeting with the seller after the purchase price has been met, do you read and go over the purchase and sale agreement with them, or let them go over the contract themselves and sign the appropriate fields?

Careful disclosing information at the wrong time in the sales process, though.

EVERY Alabama Supreme Court decision ruling that a taxpayer can redeem because it has been less than three years since the tax deed, has been a void tax sale case. 

I personally feel like there is a lot of demand for real estate, and that interest rates may simply curb demand enough to keep things flat instead of triggering some kind of fire sale (although that could be cool!).