I am a licensed home inspector and a licensed real estate agent in the D/FW and surrounding areas.

Also do I need to have an inspector come to the house before I go to this auction or will the auction company have already done that?

Inspector,Thank you so much for your information.

As a realtor and a licensed home inspector, I get my comps through the MLS system.

The first REI meeting that I went to was great in that I got a lot of contacts for brokers, hml, inspectors, etc, but I still have no idea if the foreclosedl or handyman special homes I find in the mls are below market value.

Also, make sure to get a GOOD inspector to look at the property.

And subsequently hire a property inspector to go by once a month to make sure things are going well.

I agree with biggerpo and would add that it's essential to have a good team.Where I work in Indy, we find plenty of great deals, but they mean nothing without our contractors, management companies, inspectors, appraisars, and mortgage brokers.

Do I inspect (or have inspected by an actual inspector) each home?

When invoices are paid to contractors for the hard costs, usually the developer requests a release of lein to be signed that is approved and inspected by all parties including, the bank, bank inspectors, county attorney, title company, etc....This release prevents any files, leins, or judgements to be placed on the property after substantial completion.