@Ben Leybovich,The strike price (my max offer) would be $155K. 

Although, this is a house I hope to keep until I am old, I still have to strike a balance between what I want and what a buyer might want just in case I have to sell.The house includes a 700 square foot in-law suite for my parents to stay in for most of the year.  

@Rogers SmithBut @Diane G. said it was true on an online forumFannie and Freddie already happened, in my opinion lightning doesn't strike twice in one place

@Jason Ong, After reading your summary post, it strikes me that many of those strategies apply to a lot of folks getting into real estate investing.

Life happens and the goal is to pay it off not down so keep your money where you can get at it if emergency strikes until the big day.

You have three big strikes against you:1) You're not a US citizen, neither do you have a visa that might even begin to hint at long-term residency (like a student visa or better).

Some will be base hits that help move you forward and occasionally you'll strike out and hopefully learn something for the next time.2.

Never let the fear of striking out keep you from coming up to bat." ~ Babe Ruth

That way you know the terms and you are ready to strike.

I didn't purchase the property at auction but I am curious to find out how the IRS gets their guaranteed bidder.The property sold at auction for less than what it was purchased for as new construction in 1997...it was a good strike price.