Advise you to get a minimum of 3 bids for each item. $10k for a roof (at least here in my area) would be pretty low for most triplexes unless its a small area and no gables/valleys et) A new sewer line to the street often based on total length.

Off-market deals usually come with discounted prices, no bidding war, and less pressure.

Also typically you are not the only one with eyes on this property.  10 other investors will too, so probably will not go for the minimum bid, but something much higher.What is the recourse in NM? 

As far as I understand, banks usually start the bidding at the judgement amount owed. 

Do you steer clear of bidding wars altogether?

What I would do is have something in writing as part of the offer that my bid is based on the systems in working order (or some estimated life span left)We will spend $30k to inspect them all and if any are deemed required to be replaced we will credit X at closing.

Recently, we have seen an influx of bidders get loans under agreement and then after a month of due diligence (where it should take about two weeks) come back and try and fade a bid for reasons that make zero sense.I know in traditional real estate people will put an offer and then get an inspection done to try and renegotiate the price.For note investing, buyers should remember it is a very small circle of investors and if this is your MO, then it will not be long before you get blackballed For example, if a loan has a balance of $100,000 and you will pay $80,000 and the seller has a value of $275,000 for the property and your bpo comes in at $260,000 - trying to explain tot he seller you need to fade your bid because there is $160k in equity not $175k is not gonna fly.

My realtor has submitted bid after bid.

I dont plan on buying or bidding on anything at all, rather I'd like to see what happens, how it happens and maybe more importantly WHO's making it happen.Im really very new, havent got a deal yet, but Im thinking it couldnt hurt to meet some cash buyers just to introduce myself and maybe get their contact info for future reference.I live in the Houston area and there are 2 auctions I know of; 1 for Harris county and the other for Fort Bend county.

So Eric they don't want the whole amount of the winning bid they really only want 10% ?