"my towel holder fell off the wall, please fix it" "the light in this room stopped working"  for little stuff like that we (my PM) try to coach them though it (like how to replace a light bulb) or wait until there are 4-5 things needing to be fixed then send someone over. 

JohnJohn Thedford, Yes in Arizona the lien holder can end up with the property.

Since the IRS doesn't have a purchase basis or other offsetting information, they use the sale amount as a place holder.

@Anne Williams - liens have a priority; you will have to understand that concept very well to participate in these foreclosure auctions.If the lien that is foreclosing is the most senior lien, the junior liens in general will become extinguished / divested if the junior lien holder was given proper notice of the foreclosure auction as the laws in that jurisdiction would require.

Everything is going well but I got just got a message that we need to do a conference call with this third party verification service and the holders of the 2 existing mortgages we have.

And that note will be the lien against the deed of the house, with your lender listed as first lien holder.

I also am a college degree holder and I am now 60 years old and I had a real estate broker license for about 30 years but never used that on a full time basis.  

Here is the exact language from the course I'm currently working on:"Any type of business entity that engages in real estate brokerage and that is required to be required to do business in the state of Texas with the Secretary of the State is required to be licensed as a broker.This includes corporations, limited liability companies, and partnerships.A business entity that receives compensation on behalf of a license holder is required to be licensed as a broker.

I'm analyzing a 1st position NPL to buy for which the current note holder has started foreclosure.

It would look like this:9% APR on $120,000 secured by a property currently assessed for $145,000. 12 month call, 6 months of payments held in escrow for note holder's security, 6 months payments available in bank.