, and how would you deal with such situation (calculate the risk, etc.)?

Also seen the opposite where decent lot, decent price, looked clean, but when I got there must have been $100,000 in cleanup needed with all kind of trash and junk on that lot.I've never been to Harris county auction, but from what I understand they have multiple auctions and maybe even different locations depending on the precinct, so know where to go if you can.At one time there was a lady that would offer orientations at Harris county maybe 1 hour before the auction starts.When you are ready to bid, know how to pay. 

I would try to avoid it on your very first deal but plan your exit right with multiple options.

I was going to ask him to see all of the receipts, and get copies of them for our records, and to ask for a lien waiver so his subs don’t come back to me asking to be paid if he still owes them money.Does anyone have any recommendations, besides hiring an attorney, to make this situation a little better?

After paying mortgage, taxes, insurance, and accounting for vacancy, maintenance, etc. it will be a break-even situation.

However if you have multiple houses most people don't have them all in different LLCs and if you have $50k in equity built up in each of them they are still going to go after your insurance money and whatever equity they can get.

So 2100.Not knowing your situation it’s really hard for me to advise. 

The house is situated in a desirable neighborhood but it seems they are only looking into cash offers. 1.

This career blends multiple of my favorite things: I love renovating and have renovated several properties on the side through the years.