Hi all —Curious if there are any scenarios where you can loose money at a foreclosure auction.Say you are the highest bidder and you win the auction - are there any ways that you can still loose the property after that? 

Most flippers loose money on their first flip.

And it is happening faster than we can adapt as a society.Anyone who works remote is probably going to loose their job in the next couple years to an AI.

I am loosing weight and it is as fast as microwave food.

UP-SIDE: If you pay $900 to evict and they move tomorrow, than you can start collecting rent on a new GOOD tenant that much sooner so it is not money wasted, you can still break even.DOWN-SIDE, you do nothing and they don't pay, then you still have to evict and then you loose another month or two of rent.

For example, if your renters are making noise that any neighbor considers to be a "disturbance" (literally that's the word they use in the bill), the police will be called and if there are 3 verified disturbances, you will loose your ability to rent the STR for 2 years. 

G'Day Hughston,The best advice I could give would be to not invest out of state unless you buy turnkey.But that's just me being biased.The second best advice I can give is to focus more on the people that you will be working with over the stats/demographics of a specific area.I'm sure that this has been covered many times in the various BP books but to this day it rings true.You will heavily have to rely on the folks on the ground.They will either make or brake your investment so choose them wisely.If you buy the best house, on the best street, in the best area with the best capital growth projections.But your property manager is incompetent or a cheat.You will loose money.So, team first, area second.Much success

The ground wire from the electrical box got loose and came in contact with the water pipe to the house so it was a hazardous situation.

And that's when you might loose some money on a project, which is a learning experience and then you can go back to looking for properties with a shorter to-do list.

Both parties are bound to the lease and would be in default if they terminate prior.