Hi Rob, I would like to advise you but this question is best handled by a lawyer. I have seen this happen numerous times over the past few years. Contact a lawyer and ask them if they can establish an escrow account for you to deposit the rent checks to. This way the money is available should any questions come up about you paying or not paying your rent on time. Remember, there is a 6 month redemption period for the landlord to get his property out of foreclosure.
If I can help you with any Real Estate questions do not hesitate to contact me. First and foremost though should be seeking legal advice from a licensed law professional.