But from what I've read, there's basically no market for it because most lenders will not lend against it (so it will make it very hard to resell in the future).2.

I would resell for $527k

For a flipper to rehab and attempt to resell what percentage is he going to pad the deal for these unknowns?

Banks won't allow you to wholesale the property and I believe they require a seasoning period before you resell the property.

David, I had planned on using a double closing (buying the property first & then reselling it) IIRC a double closing is not illegal as long as your end buyer is using cash & it's not a short sale. 

If you buy the property & put it under contract are you saying that you aren't able to resell to a homeowner? 

Also, usually there  is little notice to creditors and mortgagees in these type of auctions and the buyer has underwriting headaches when he goes to resell it.

@Thoai Han- is your plan to purchase then resell, Or purchase, and develop?

Where you get the money from does not matter to the seller.I believe @Luke Grogan is referring to the times when he MUST take title before reselling (in circumstances where selling property you don't own, without a License, is illegal) ie. double close!

I heard you can make a lot of money buying vacant buildings and getting a 10 year lease on it and reselling it.