-will Contractor bids increase and will take longer to complete remodels due to high demand for labor?

The deals that we have done, the PM ran the show with us approving the budget and bids.  

Also, there really isn't a clear detailed account of what has been done or not done and at what price/cost....the bid just had lump sum phases except for insulation and drywall which were going to be subbed out.

Last time I did this, I spent five days and only got two of 6 to show up and of the two, one never passed me his bids and one turned out to be a bathroom specialist only and did not want the other task associated with the job.  

@Sunitha Alli - I would strongly suggest you get qualified contractor bids on a project like this.

I'm in the same situation i looking a property 1st rehab whos going to find out all the cost before i bid and purchase this property

The bank decided to purchase the property and now it is sitting at a starting bid of $56,833 and has sat in auction for 46 days I believe. 

The article says 20 bids and the winning one "wasn't an outlier," so we have good reason to believe the sales price is ballpark accurately telling us true market value for the home, without even having run comps.Really, what's more likely at play here, is a listing agent that wants to be able to juice up his "average % over asking" pitch a little bit more for future listing presentations.

A tax lien state you are bidding on properties knowing that the large majority of properties will get redeemed and you will get a small percentage of properties.Most wholesalers buy lists of addresses and send out a mass mailing trying to connect directly with a motivated seller before their property goes to a public auction or gets on MLS.

From my experience (at least here in Louisiana), the thing to remember is that you don't get the opportunity to inspect the property physically prior to closing.I have been pleasantly surprised and the I have also been "unplea$antly $urpri$ed"If you're the winning bid you assume the risk of the need for an eviction, a title lien, or unknown repairs required.The newer the property the more likely (it seems to me) you may have these risks of unknown liens or need for repairs.I would do it again, but I will only buy at 60% if ARV.