This includes mandatory structural inspections for buildings over 30 years old and the elimination of the option to waive reserve contributions.

IRS liens, municipal liens, utility liens also transfer to the high bidder.I'd contact the owner and see if a pre-auction deal can be struck, which would eliminate the auction competition. 

Proper due diligence will reduce your risk, but it won’t eliminate it entirely.Personally, I like value-add opportunities because they build in equity from the start.

That is part of your return and you have to account for it.Since the beginning of time middle people have basically exploited inefficiencies in the market but eventually get eliminated or their role is drastically reduced: travel agents, stock brokers, floor traders, money changers, banks with tellers, cashiers, book stores, etc...

My original post was about the fact that they are eliminating it says something.

Another strategy is to take an elimination approach where you make a list of places you will not invest.

Also, I'm usually trying to eliminate drama on my properties.

so this eliminates taxes on the TOP end of income. 

@Evan Bell I can't get excited about business plans.  

The catch is you have to be a State of NC employee or relative of one to have access to the Credit Union which eliminates most of the USA and even most NC residents.