Marc, the choice was between Obama and a retiree, who else should they have chosen?

You've just chosen the path where you'll find the most opportunities for scammers...wholesaling and discount buying. 

I had chosen to stay home with our first child for a year, although when baby #2 came along, I had to make a decision on working full time or moving for help with family and working part time. 

I do not gamble with this. 

You may want to research why paying 50% upfront is a high risk gamble and why you should NEVER pay cash.3) WHEN: housing values are not predicted to drop - although they may flatline.

Gamble.

Yet you have chosen to respond with how much you know. 

If so, I'd love to hear the step by step process...including good online sites and how to include an assignment fee to the auction. or the pro's and con's of why you have chosen or not chosen to use that strategy.

What strategy have you chosen for that goal?

I hear what you're saying about the cost to make them habitable but I don't think that will be considered a gamble when you're looking backwards a few years from now.