Very good points, especially with regards to performing due diligence. This is something that I did not elaborate on but kind of thought that it goes without saying that there is nothing, absolutely nothing that should ever prevent anyone from performing extensive due diligence regardless of the type of sale, reo or otherwise. Trying to obtain recourse after a purchase is made for some post purchase discovery is a tough road to hoe even if it is not an reo.
Also I will not be quitting my day job as an engineer anytime soon.
