With a private auction of an already foreclosed property, you will usually be allowed as part of the closing to have a title search done and to buy title insurance.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Laws, taxes, insurance, adventure, new challenge, grow skills, etc. 

DSCR loans go up to 80% of the purchase price and depending on the Debt Service Coverage Ratio and your credit score you can expect rates on a 30 yr loan ranging from High 6%- Mid 8%. 

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

I believe this would make for very interesting news coverage on our blog, YouTube channel, podcast, and social media.

I also assume you have homeowners insurance rather than landlord policy which is invalid if you’re not living there.

Specifically:Licensed and Insured Contractors:Strong experience in fix-and-flip projects is preferred.Proven track record for meeting deadlines and staying within budget.Interested in building a long-term working relationship.Real Estate Agents:Knowledgeable about properties in Chattanooga and surrounding areas.Skilled in identifying high ROI opportunities for fix-and-flip projects.Open to partnering with an investor for repeat business.If you or someone you know is a great fit, please comment below or send me a direct message.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs).