This has dissipated, and that irresponsible crowd has largely lost their money and motivation.

I'm not familiar with the area, so could you share what your value expectation is on this? 

You're right to think critically about this.

This sounds like an exciting venture!

Your experience in this particular type of project (flipping, new construction or rentals).

Purchase price: $123,000 Cash invested: $15,000 This was my first personal real estate transaction.

Quote from @Twitch Raid: Found a home for sale on the judicial repository list that is from the previous owner.This owner owned it in 06, it was sold in 07 and posted for judicial sale in 2010 and has been in the repo since.Is this sale any good?

My understanding is this can be done by keeping the property in LLC and be 50/50 partners in LLC. 

This is how I would go with your projects. 

I am looking at some Repository list properties, due to these being on this list it is to my knowledge since they are from judicial sale they will be provided with a free and clear title.I am noticing 2 things on some PINs either the pin is for a "improvement only" (trailer, garage etc) or the name on the repo list does not match the most recent on the GIS pin.With these situations does that mean if its improvement only you would only own the trailer for example and not be able to do anything with it as the land is still theirs?