Hi Joel,
It sounds as if there isn't much competition for REO's in your neck of the woods! Here in CO, we sometimes only have a few hours to get offers in because there are so many investors chasing after the same properties. Sitting with a spreadsheet isn't a luxury we have around here!
I wouldn't spend too much time on spreadsheets and definitely wouldn't use Zillow for FMV's - (they're about two years behind from what I've seen).
Are you using these for your due diligence? It wasn't clear whether you were just browsing for properties or whether you actually had properties under contract.
Public utilities owing or delinquent taxes are the problem of the seller (in this case the bank) so I'm not sure why you would be looking at those issues. If a lien shows up on title, the bank would have to clear it to pass clear title to you when you bought.
If you're looking for REO's, using an REO realtor initially to send you leads and show you properties is a good idea. Over time, you'll be able to flush them out yourself.
Again, I'm sorry if this doesn't provide a real clear answer to your questions. Need a little bit more clarification on what you're trying to do and hopefully I and others can help a little more.
Good luck!
