Hello,I came across a single-family home in a decent neighborhood that's not being cared for, but it does look like there are people living there.After some initial research, it looks like the person who owned the home was indicted on wire and identity fraud to obtain multiple fraudulent mortgages.

This realtor is saying the bank may consider full ask price but if not they will settle for a complete gamble by going to auction?

I do not smoke, gamble or drink so Las Vegas was not a preferred location.

If you buy in the right area.But just buying in "Spring, TX" is a bit of a gamble ....

My comments might be better understood if we to say, fraud is illegal, by itself it is a violation of law, incorporating fraudulent schemes or aspects is a predatory practice, a predatory practice is not necessarily fraud. 

DON”T listen to your friends that will be so concerned for you: “don’t you think you should keep working just until" …. ”Are you crazy, you had a great job”, “why would anyone want to deal with tenants, they don’t pay, the roof will leak, the water heater will go out – I’m shocked you would take such a gamble with your family”FEED off these people, just know when you hear these things you just put the gold medal around your neck!

You don't want to gamble all your money away on your first flip and potentially lose it without an income stream. 

But he was in jail.We feel that the county sold us a fraudulent property title.

You may have been lucky to do the napkin approach on your first two but I certainly would not gamble the rest of my investment career on that approach, itbwont be long before you run into a large mistake.Properties with 5 or more units moves you into the "commercial" financing realm of the business and that is where the switch from comparable to income approach valuations changes.

Hey Guys , Since the last time i posted about the these  fraudulent individuals they have closed their account .