Why not snap these up by the dozen?

[Peter Davis]

I spend quite a bit of time on Ebay and on occasion I find myself lost in the real estate section and come across stuff like this....
http://www.ebay.com/itm/BEAUTIFUL-3-BR-2-BATH-CONDO-IN-ORLANDO-FLORIDA-CURRENTLY-RENTED-INVESTMENT-HOME-/390564343281?pt=Residential&hash=item5aef72edf1
Now, I was raised to believe that if something looks too good to be true, then you should be suspicious. I can't even get my bathroom remodeled for the price that these properties are selling for, what's the catch?

[Dawn Anastasi]

You do have to do your due diligence when looking at properties on eBay. Okay, for example look at this one in Milwaukee:

http://www.ebay.com/itm/3-3-DUPLEX-IN-MILWAUKEE-WI-VALUE-98-643-/390569928708?pt=Residential&hash=item5aefc82804

The current bid price is $1,425.00. You might think on the surface, for a 3/3 duplex, that's an amazing price!

Well, if you read more, or knew anything about the area, you'd discover:

- The winners of the auction will be required to pay $2,590 on top of what the auction price is.
- There are back taxes owed on the property in the amount of $3,558.64.
- The ad lists that its "zillow value" is over $98K but the City has it assessed at only $45K.
- It was purchased in December 2012 for $4,500.
- There are 27 (!) code violations on the property.

This is not an area I would invest in. So, buyer beware -- know what you're getting yourself into.