Obviously, make sure the contract calls for you to receive free and clear title at closing (almost all real estate contracts do) and allows for enough time for the extra title work (this isn't going to be a 30 day closing - I'd start with 90 days).Take the signed contract to the title company or attorney that will be closing the transaction and let them handle the title work.

@Anne Williams once you close the transaction you become the legal owner you shouldn't have any issues.

@Darin Tripoli,I was involved in 204 sides of transactions (that closed) last year in some capacity.

I can provide you with both a rental/cash flow analysis as well as a market analysis with a breakdown of selling expenses so you have a very good idea of what you will pocket at the end of the transaction at no up front cost to you. 

Of transactions on the MLS services, the median price was $405,000, up 6.86% from January 2019.

I shouldve mentioned that I'm actually from Canada and I was looking to do flips, all cash transaction.

I was thinking something like:1) Bring in an inspector (as if selling the place, except maybe even more thorough, since there's no incentive for the transaction to succeed), and have them draft up a well-documented report.2) Use said report as a baseline, and make it clear that any slippage caused by their neglect, even if it's major repairs caused by waiting too long to bring something to my attention or get it handled, is their responsibility.3) Get additional insurance (umbrella policy), to better guard against the liability thing I mentioned above (not sure if this is worth it though, if I already have liability insurance for the property).Any advice, or similar experiences/stories, are most welcome!

You need to focus on building your cash through real estate transactions and or wholesaling before to try to invest or flip.

I agree - you need to establish relationships first via good work,  then move from a transactional deal to a trusted relationship. 

Since online auctions frequently now require deposits by credit card, you may be stuck with your deposit at risk if you win the bid and don't complete the transaction.