However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out. 

you can do all of this on market and sell "as-is", minus the agents commission, sharing closing etc.

I'm interested in hearing experiences on what companies or custodians work best, what pitfalls to watch out for, and any red flags during the process.

- I understand that properties go to auction, but what’s the process like from start to finish? 

@Chris Hains  all in price , vs what you are expecting to sell it for , KEEP IT SIMPLE.

If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

The goal of a HELOC is a quick line of credit to either refinance or sell and pay back the HELOC as soon as possible.PS - I would recommend taking a look into the Columbus Ohio market, there's tons of 1% rule deals still within the 120-180k price point with amazing appreciation potential.

At the same time, I’ve been seeing a lot of distressed properties sitting because owners don’t want to deal with the process—permits, contractors, tenants, refis, all that.

I have been here thru out the process.

I eventually found a seller who wanted to sell me his house...in Little Rock, Arkansas.