In this competitive market, that auction seemed (based on very preliminary observation, I grant you) like a whole lot of work (and risk) for a limited return.  

Ohio allows them, but formalities must be observed as if it were a >3 year lease.

Yes, I agree with the observations of my fellow colleagues above.  

The home ended up appraising since their was 200 sq feet of space I didnt anticipate ($200/sq foot market) and I ended up getting the house for about 50k under FMV. in theory, the high offer, low anticipated appraisal can work (I have observed it on two other Homepath homes).

Have you had any observations like that?

Curious to hear from any professional mortgage folks, but my observation has been variable soft investment income (notes, other loans, equity investments) is counted if shown on 2 years tax returns (though expect something like only 70% counted and only the lowest amount).

You will quickly observe the difference in value between property is often in the hundreds of thousands.

Hi @Matthew Forbes,I have been to 3 of their Boston REIA Meetings, and I have to say I entirely agree with the observation you had.

Interesting conversation guys, glad I was able to sit in and observe.

What I have observed is people tend to be ok with 1% in high appreciation areas and the closer to 2% you get the better off you are.