As a professional programmer, I just can't place any trust in ANY online auction system, just like I would rather sit a a poker table than in front a poker slot machine.I was going to cite some examples, but having raised the question of manipulation should be sufficient to cause a moment of reflection before you dive into the deep end of the pool.Your experiences?

I am definitely temped to try it out and just pay off the full mortgage if the bank calls it due.

Also, I do a lot of work in Tempe, if you want to connect and grab coffee let me know. 

The reserve study is an amazing thing but very easily manipulated.

Also the estoppels need to be tenant signed and every unit inspected.If the seller will not certify it is a red flag they are cooking or manipulating the books somehow.

Unless you know how to manipulate databases, or learn to, you will be unable to do this.

Thanks in advance :) Jared you'll need to know a range of cap rates for your specific:-structure age and condition-tenant base or type of renterYou go get comps of most recently sold multi family buildings in your range of units 25-35 units.You look at the NOI / Sales Price = cap rateSo first you have to understand what a cap rate is what is a NOI is and how to calculate itHow you can manipulate NOI or CAP rate to make a seemingly good deal as a bad deal You have to know the difference between a bad deal or a good deal otherwise you might be setting yourself up for some hard times.Most agents have no clue (in depth) about what cap rates really other than its a formula of NOI / sales price = them selling a property to you to make a commission and its a number you as an investor look for.To determine which cap rates you're willing to invest in you'll have to know how the "cap rate," and this subject property will affect your financial statements otherwise you have no way to plan and you're purely "winging it."

I definitely snagged a deal on my triplex in Tempe, AZ.

The elderly ladies decided to crank the a/c so cold (64deg F) that the subsequent heavy condensation forming on the old metal venting started dripping through the ceiling tile & dining room light.They finally compromised with a higher temp, bought a dehumidifier & have repainted the ceiling tiles. 

You can manipulate numbers all you want until they tell you what you want to see but that may not reflect reality.