After buying property at a judicial sale, how long to reno?

[Joshua D.]

Hi! 

We recently bought a property at a judicial "free and clearsale for $19,000. The tax assessment on it is $61,000, but the real market ARV is around $90-120,000. It needs around $20,000 in work, including a tree taken down out front and complete renovation.

NOW, because we bought it at a judicial sale, should we wait until we receive the tax deed to start renovations? Would you clear the title through a QTA before beginning renovations? 

We also may be able to get the previous owner to sign the title over to us for cash. That hasn't been confirmed yet, but its a possibility.

Either way, we were curious when we should enter and start renovations. Doesn't seem smart to start reno before getting the tax deed, which will take a few weeks, but is it really necessary for us to clear the title prior?