Regarding auctions, if you don't win the bid do you get all your money back?

Your suggestion is a heads I win, tails you lose.

I would RUN from this 'Contractor', his attitude is bad and you will have other issues with him I would bet...

Because I rarely have to evict (one every 5-6 years) and because I always win my evictions.

I also hear from a lot of landlords that they aren't interested because it doesn't sound like a "Win" for them.Here is what I've found works - - - - - - - (1) Picking your target correctly Theoretically, you could rent any residential space and Arbitrage it, but realistically you need to find a place where you, a total newbie, can create enough value to begin a partnership.  

The best way to win is staying in the game the longest. 

Networking and asking others in your market may be your best bet.

For supercharged cash flow I like this rule of thumb as my #s seem to flesh out well w/in these margins:1BR under $100K2BR under $200K3BR under $300K4BR under $400KMaybe you can go up a notch on each if you want to break even w/cash flow...so to each his own w/that.Of course if they are being sold furnished / turnkey, I'd add in $5-10K of value (depending on how nicely furnished it is) per bedroom.  

Generally most people you speak with are going to provide you a quote with their "standard" commission built in and anything less would be them taking a reduced commission to win your business. 

Chances are you won't get anything even if you go to small claims court and win.