the problem with auction.com is that everyone is looking at auction.com :)  bidding wars ensue. still, it wouldn't hurt to get acquainted with the process. 

With solid cash-flow you will be able to hold a property through an entire down cycle and re-capture appreciation on the ensuing upswing.

My insurance broker said that I could get a full GL policy that would cover me for ensuing damage due to property defects and injury claims that arise from issues post-sale.

Messy breakup ensues.

This happens people get married by a house then divorce and can't afford the house themselves foreclosure short sale ensues etc.

Brian P - please point out any bad advice and offer alternatives, so that we may all benefit from the ensuing discussion.

Thanks to all who read this, hopefully a discussion ensues that adds value for all of us.And thanks in advance to anyone who has advice--Even if it's not the kind I want to hear, I need the kind I need to hear from peers and mentors who have walked the path....basically if you are green and reverse your sentences in an oddly muppet like voice, chime in.....or if you're just a Jedi of REI, that's pretty dang cool too. :)Ryan

Literal batting of eyelashes ensued.

Just tell him you want to buy the property and have no POF.I'm sure hilarity will ensue.  

If you do not report it, it is possible that ensuing damage you find later may not be covered.