Maybe you'll be chasing your tail but sounds like you don't have much to lose.  

Because they don't know what they are doing, they get into trouble, and then they run away with their tail tucked between their legs!

Mentions he lost another $800.00 on the wasted auction and has a 45 day hold from the auction company on the property.Now this guy is laid off from work and off the property, but seemed very interested in a cash offer below market value instead of listing with an agent.Neighborhood would be at least a B with most of the houses higher in value in the immediate area.This would be more of a whole-tail  as it is just personalized with paint and some decor, limited rehab.How can I verify my numbers with this guy before my 45 days are up?

RE is too flexible for many, it takes drive, dedication and persistence to do well and no one is kicking your tail to go to work.

How can I price this out accurate not knowing the a tail cap rates of the neighborhood?

Sounds like you have the tiger by the tail sir,Nice work!

You can be in the note "business" for 10 maybe 15 or even 20 years and never have an issue, you can also buy your second loan and lose your tail and be fined from not being in compliance.

Somehow the academians once set it without realizing home prices have both tail ends which can shift median (i.e. mid-point) left or right especially there are huge estates or small sized home in a small community that can distort the comparison.

I was just entering the industry in 2003 as a part time agent, so I just caught the tail end of this...and this is where the 90 day rule for FHA financing came from.

I think it is riding on the coat tails of I35 growth.