It was under market, ran all the numbers and even made expenses fat.

I simply sat down with myself, and I said "Self, what if you could figure out a Safe way to buy BEFORE the auction and beat all those fat cats to the punch?".

While we don't necessarily have the time to manage the properties 100% ourselves, we at least do have the flexibility to be moderately involved and plan to keep the property manager accountable and regularly undergo thorough audits of incurred expenses (i.e. request bigger ticket items $150-$200< to be submitted etc).Through a mentor (very large SoCal real estate investor involved in large Industrial, retail, and with vast experience in SFH-MF), I've been seriously advised against hiring a property manager - he's warned that while the baseline fees appear to be a good deal, the inflated repair bills, stalled evictions, and mismanagement will eat up cash flow and money out of pocket will be needed to make mortgage payments - even with the best PMs.Out of curiosity, what has your experience been like with property managers?

Parents are usually unwilling to let their college-kid start off with a big fat strike to begin with, so rent is paid regularly and on-time. 

Classic mistake is the owner will hoard cash and live fat for years and make good bank.

If they are a pain in your side, and you wouldn't be sorry to see them go, hello nice fat increase.  

@Peter Vekselman  was not insinuating your a wannabee wholesaler my point was I could  see wanna be wholesalers not running title and getting fubared at the end.I just bought one in Charleston again exact same issue.. wholesaler brings it to me... we decide on price.. only to find out the lady owed more than what they were selling me the house for .. they were bummed  what they thought was a fat deal turned out not to be I still bought it but at my terms not theirs. 

For example a blind seeing eye dog.Emotional support animals are governed by fair housing and does not need to undergo any training.

The only time people lose assets is if theylose their job or have to change for a decrease in income, then they try and trim the fat.  

I used to put in my ads "All applicants will undergo credit/eviction/employment/background/landlord/criminal checks.