Here is the situation:Local bank --  they keep all paper in-houseWill do 80% LTV on 5/1 ARM with 20 year AmortAs long as the purchase price is less than the town assessed value (this was way less) they did their own "Property Evaluation" (no cost)Although I submitted paperwork the process wasn't anything near normal...we really about 1 week + whatever time it took for the title company to complete the search and we were ready to close...had to wait on HUD of course but we were ready

Are these non arms length transactions, selling to siblings and cousins or questionable deals?

You'll come to learn that in this business what comes around goes around, so a seasoned investor that sees potential should welcome you with open arms in your learning process.

Any such investing has to be done entirely at arm's length and purely for the benefit of the retirement plan, so you could not use this for your own property or to generate income for yourselves - other than taxable distributions from the IRA after age 59 1/2.There is a lot of good information here on BP about the general concept of these plans.  

The tenant claimed she ripped her arm open on the metal railing whilst opening the mailbox.They sent pictures of her arm which looked like she'd been in a knife fight.I went and looked at the supposed accident scene and it was apparent their claim was ludicrous.

What is existing financing balances and payments, arms or fixed?

Ideally we would refi into an ARM amortized over 30 years and refinance when the principle is paid down to 80% into a conventional loan.

They will more often than not change your assessed value to the price you paid for the property if it was purchased in an arms length transaction.

To find out about an area and gather info go to IREM.org search for ARM certified property managers.

I have been reading all i can for a few months now attempting to arm myself with a little knowledge before i try to jump into an investing career, but i am sure that investing is what i want to do.So my question is about the online auction process.