Check the laws on it, though, I think I read somewhere that there was a problem with doing that down there.

This property is located in Southern California so I am not sure what would be the ideal approach to make things go smoothly with the law here. 

There are also new laws concerning those who have received notice, no more "I can help you" arrangements or interfering with any foreclosure process, banks don't due lease purchase deals.

CPA- CHARLES P VONDERHAAR CPA LLC (Chuck vonderhaar)Title company- Title partners inc (linda Donahue)Lender for flips- Spring Valley bank (David Wittkamp)Lender for cash out refis- Valley central bank (Randy Davis) RE Attorney- Beyke law firm ( Joe Beyke)Insurance agency- Affinity Group management ( any agent)Hope this helps! 

So i recommend looking into the state you are interested in and see how the laws apply.

Guess those folks don't know speeding is against the law, or simply don't care.Bandit signs are in violation of muni code almost everywhere.  

Absolutely feasible under today's law.  

I know it's a very good idea to have it (although not required by law) but I'm not sure I understand it.In what instances would Title Insurance come into effect?  

"Standard" due diligence on a loan made and secured against a condo should include reviewing the condo warrantable or non-warrantable status along with the economics and by-laws of the association.  

That will reduce your gain.Another factor to consider is that tax law can and does change over time.