Thanks for everyone's replies so far. I am being more cautious with this, just to throw it out there, since I've read plenty of horror stories about auctions. Definitely don't wanna get a bad deal. I do wanna say, when I mentioned earlier about the 2650 in rent, I meant from tenants. It's got every unit with tenants in it, in my untrained eye, that means the place is at least a bit up to par. But I'm inexperienced, so I can't just take that at face value, thinking just because it has tenants, that it'll be worth having. Because like Bob said, they may not even be paying any rent and that would be TERRIBLE for a new guy like me, so I see how he's right in that regard.
My max bid, if I got the funds, would have been no larger than 100k, if around that. Using that 1 percent rule I hear, to make sure you make money back on the rent thats paid. I'll definitely look around for someone more experienced and show them the place and what they think about it. Probably the safer, smarter option.
