@Michael McDermott - No experience but I'm curious to know how this plays out as there's a house I'm looking to acquire right now that if I do I'll be challenging to the assessment too as it is significantly higher than all recent comps. 

Most I have found want me to buy into a program that I am happy to do but they can't seem to give me a clear understanding of what I am going to learn.Can someone please point me in a direction that I can find helpful lenders that can assist me in acquiring these properties? 

I Recently had acquired a home under contract in Niles, MI.

Last month I acquired my 700th property.

if you are going to acquire before the foreclosure sale you are going to have to figure out a deal the current owners will take.

The offering was a 506(b) and the minimum investment was $100k.An SPE (single purpose entity) was setup to acquire the property and we formed an LLC.I secured a bridge loan through a hedge fund who gave aggressive financing at 84% LTV and a rate of 6.25% I/O (interest only) and I was the loan sponsor.

How did you acquire your property?

If the PR is also an heir, preferably sole heir, and does not reside in the property, you have a decedent chance of acquiring prior to her listing w/agent in MLS.It may be an investor-type who acquired an heir's interest and is probating to clear title.Of course, there are a lot of 'what if's' that you could drive yourself crazy by dwelling on.

The Philadelphia Housing Authority also released a plan recently to acquire a large portion of the Sharswood neighborhood (right next to Brewerytown)  for relocation of their headquarters from Center City and to develop the rest of the space for residential and commerical use. 

Cypress is a hot market and there will be plenty of buyers for your final product, but you will also have a lot of competition when you try to buy.