I could be totally off key here.

There is a difference between a repair cost and a total replacement cost. 

The information contained in this post is not to be relied upon.

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

Patricia,I wouldn’t rely solely on the seller’s agent, as they are only sharing information provided by the seller and represent the seller’s interests, not yours.

The information contained in this post is not to be relied upon.

I also sold 2 properties to one out of state and another from Pakistan and the buyer never walked through but relied on the home inspection to determine scope of work or to complete the deal.    

So, if you put in 20K, you could set the bid up to the amount of the 100K total debt(80K existing + 20K additional) to ensure that the property reverts to you as the lender.

The information contained in this post is not to be relied upon.

. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.