You will lose ALL tax benefits and owe all the capital gains that would have gone away. 

“Students losing EMD from us backing out of a deal.”

You can't overcome a change in the market but your margins need to still be large enough to not lose your shirt if the market does shift like it did the last several months.

Being less selective means that some of those ten will lose money, some will sit for months on the market, some will return 40%+. 

Quote from @Gregory Wilson: A few things there, Brendan.First, an LLC with you as a member and your (wife, son, pal, etc.) partner as a 1% member will file a Form 1065 which is about one tenth as likely to be audited by the IRS as a Form 1040 with a Schedule E rental activity (which I presume you will attempt to show is an active business).Second, you want an LLC because when your local Alabama handyman drives his girlfriend's uninsured truck into a van load of U of A medical school interns on I-22 when he goes  to get some shingles for your roof, on your business, you don't lose everything you have or ever will have to an uninsured claim. 

Chicago is losing housing stock at an alarming rate. 

So I approached the foreclosed upon owner this week to confirm that she had sold her right of redemption... she confirmed.But the investor has not filed the petition for redemption.And of course the court has not approved the sale.I am bummed about losing the deal.  

It's like asking whether you can lose weight if you don't exercise.

If you can't explain to us what the GATOR method is and how it works then maybe you are not ready to make the financial investment to get it started.

Before reading further, I intend no offense with my post; just correcting some inaccurate information (seems I end up doing a lot of that on BP).Well, if you came to Pennsylvania and bought at the tax sale here according to what you just posted, you could end up losing big.