Lets say you get it for 205k but the rents will only support less than half of the expenses or overhead?

Scott – This one is tailored to investors looking to understand real estate accounting and bookkeeping.You might also consider looking into general bookkeeping books like "QuickBooks for Dummies" for managing finances, especially if you ever plan to expand beyond REI Hub or need more detailed tracking!

It’s very customizable and user friendly and makes it super easy to track all of our finances.

Many seasoned investors are willing to share insights, and shadowing someone experienced can fast-track your learning curve.You’ll also want to familiarize yourself with the numbers behind successful flips—acquisition costs, renovation budgets, and after-repair value (ARV).

I think you are on the right track and should only be looking at values on owned land.

If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. 

You're definitely on the right track with investing your time in real estate and getting active on BP!

My point is I want to avoid paying for the repairs, am I on the right track and is there any advice I should know before my first auction ?

Learn how to use Google Map and Street View to home in on the overhead and street views of the property and neighborhood, so, you don't have to drive out there to see a heartbreak house with bad neighbors that you thought you could afford, but, it is in a War Zone.

It takes a lot of time for PMs to build relationships with trusted and licensed vendors in their network.All of this requires time and has overhead costs associated to it (employees).