Even though your payment will be higher you can do this for a shorter period of time than the 400$ payments but of coarse you may not cash flow any at that point which really sucks .personally  I don’t think this is even a good deal to be wasting time and money on given the risk involved .

I also suspect that you are wasting your money on an attorney right now.

Now, you can try to find ways to minimize that (I have a single family property here in Los Angeles for which my agent signed some solid tenants on a 3 year lease, so ti is possible), but it's trickier for apartments like this. 

With our syndications we try and give ourselves the opportunity to capitalize on market conditions and create a financing structure to allow us flexibility to hold the project long term with minimal risk.As an investor the liquidity is one of the downsides to these types of syndications. 

Today I want to ask as a newer investor, how are people minimizing costs when they refinance?

Minimal debt.I have no living expenses with my employment situation.Would love to hear about ways I could get my hands on the cash/lending to win this auction.

It is very difficult, you have show a legit POF to the lender before they will consider it, lots of things can fall apart, the bank will want near market price and the end you just tied somebody’s property for months, you can’t do the deal, they get foreclosed on because they wasted all that time with you.

As far as savings goes the only reserves are in the house and in retirement accounts which is minimal at this point in my life.

Should I wait until the day before the auction to look at what is for sale so I dont waste my time?

Idk if that makes sense but in summary, if I rent to normal in section 8 area the cash flow is going to be minimal.