My margins are pretty razor-thin to accommodate for property management, the condo would cash-flow roughly $250 a month without a PM.

It is wise to look at class, city and neighborhood within the city, as well as age of construction.For instance is it a lot of new construction units on newly built bike route/light rail in (fictional) Shark Beach, while the class C down by the docks are running normally?

Everyone knows the difference between credit cards, debit cards, loan sharks, bank loans and title loans; and still people pick the worst choices a lot of the times.

You profits are razor thin and even just 1 out of 14 tenants trash the place, all your profit will be gone for the year.

You would be swimming with the sharks in these auctions so buyer beware.

@Sam Shah Take a look at Property Shark. 

It’s not 100% but it’s 90% I’m thinking about that because I know since interest rates are low if I do a fix and flip right now slot of buyers now are going through FHA which has some contingency with purchase from the conventional loans that are out there.

If comps are 115k, that margin is razor thin low and only adds pressure to this deal, and eliminates nearly any and all exit strategy for you to do what you want to do, which is make money.

A quarter in and pray the slot machine is kind.

Slot of new apartment buildings going up.