I see this auction. Looks like tax lien from private seller.
Do I understand correctly they've bought an $85 tax lien with interest bid to 8% and now selling it for $1200 so that's where this investor makes their profit?
So buying it is a gamble that the owner never pays it off and you could foreclosure on the house.
However if owner pays it off then you would loose everything over the $85 you pay?
Is this typical of AZ auctions?
Not sure if you've read this yet, but it should help.