I estimated around 20k , in which he brought up new issues that I was unaware of.The house comps around 50k maybe 54k .Here's why I'm doubtful ,50,000X.70= 35,000 -22,500 repair costs= 12,500 moa- 5000 assignment fee = 7,500 max offer after my profit.My plans were to close w cash and try to resell with 10k profit .

The only way your contract will close is if you can go out and resell the property for more, within your inspection period.

Of course the court will give her time to try to fix it but if she cannot do it she cannot.It is possible the court may find she does not have the ability and it is not equitable to force her to sell, but the court must be fair to you too.You might find out how much equity she has in the property and have wholesalers call her about buying and reselling the property.

Sounds like you're reselling a lease option, or seller financing.

If you think you will re-sell or re-finance in the next few years, ask to purchase a binder policy.

I am wanting to purchase them "subject to" and resell or lease.

I will tell you this though, developing a piece of property involves a lot more than most people know.If you can tie it up, you may be able to find a developer and get their input, resell it, or do a joint venture.

PM me if interested.If you wish to capitalize on these leads yourself I would not advise moving the home however I would advise you to understand what you would need to buy and resell these homes for to make them a good investment to you.

It is extremely common, as @Lou Veiga referenced, for the auction to be postponed at the last minute, and for most properties to go back to the bank, especially in a rising market, where the lender thinks they can do better taking it back and and reselling, since a purchase at FC auction is the riskiest to the buyer, and therefore auction prices are typically the lowest.

When you resell the developer will knock it down so no sense putting much money into the place.