My preference is to go straight through the title company, put that money into renovations, and send the agent a couple hundred dollar gift card to Amazon for their time. 

Despite claims otherwise no money down deal are the rare exception.

This is certainly text book and absolutely the proper way to analyze a deal.Im not sure what he owes on the home but based on the payment and the year it was bought and the fact that its 20 min from Austin im just going to throw out 500K for conversations sake.500K compounding annually at 3% for 5 years comes out to approx $578,000, and you have the loan paydown aspect as well obviously. 

Anchored in the Sandhills region, it holds significance in national defense owing to its adjacency to the Fort Bragg Army base and Pope Army Airfield.The median sold price has surged by 7.2% year-over-year to reach $225,000 ($142/sqft), with an impressive 42% of homes sold below asking price last month.

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

You need to know that Single Family Houses do not make Money, unless you find some Special Circumstances.

New to flipping will mean 12-14 percent and 2-3 points right now from private/hard money lenders if you have no experience.

What is the home worth versus what you owe on the mortgage.

I just use the money again. 

You can offer to lend the seller money to stop the foreclosures. 7 or do a lease with an option to buy - making up the back payments that would be considered you advance lease payment.Always look at the property if you have intentions of bidding at the auction (this can be tricky because you need to do that with the owner's permission - do try to build a rapport with seller  - also look at the foreclosure suit to find out what the bank is looking for and if there is a second mortgage or other liens.At the court house steps when the auction take place you need to be well prepared with your certified funds but more importantly you need to know the fast sale value of the property - you don't want to pay retail.Get to know your competition - there will be professionals at the foreclosure auction looking to capture some serious equity.