It would be near impossible to write a law to tell us all of things we can doAlso..On your assignment make sure you sell the property as-is and get this document signed... my deals, I know use an affidavit of understanding and have it notrarized...

Comps are going to be impossible to find.

Not impossible, but you're trying to find a good deal and a property with great terms so you can buy with little down.

Or that its impossible to make a nice paycheck when you close a deal.

From that description, it's also not impossible that the gentlemen you describe was not simply interested in deterring you from attending future auctions.Think of who has more of an interest in the actions taken, a "bank representative" who has completely wasted his time at the auction, or your competition trying to eliminate you.Also, I'm curious as to why you say it was clearly worth more than $500K when no one bid on it.

We are renting a 3bed 2.5 bath in lakeview for 3000/ mo so depending on location it's not impossible.

We all have a circle of potential lenders/acquaintances that we could tap, without the hassle (or outright impossibility) of dealing with banks.What approach has worked for you, and what terms.

I have not had a chance to take a look at the inside , but from what I can tell the mobile home has been well taken care of.A lease option where the tenant takes care of the maintance seem to make most sense then I guess - given the fact that the new HUD safe act makes it difficult / almost impossible to offer seller financing.

Getting these 6 people to do ANYTHING in a timely manner has been almost impossible.

Thank you Chris, I do see the value of skin in the game from both sides of the spectrumThat makes it seem impossible to get into a large income producing apartment complex unless your already wealthy.