Hi @Paul Amegatcher, I heard that trying to wholesale a short sale is walking a fine legal line, so I'm going to stay away from that for now.But with the pre-closure process, do I just get a lead and do the sale contract between just me and the owner(s), no agents involved?

I graduated college a year early with a finance and accounting degree and have an investment banking job lined up but want to pursue real estate long-term.

@Kit Elliott I think that's a fine strategy. 

@Twana RasoulIf you are occupying one unit, I think thats a fine house hack strategy.

When I looked for a final time with about 15 minutes left in the auction, the increment requirement had been decreased to 5k and the current bid had gone up to 40K. 

@Chuck Hollowell I wouldn't buy in that area for a flip, but if you plan on buying and holding, it's probably a fine deal.  

There's a fine line between too low and uncomfortably high; if it's too low, you're more than likely leasing for under-market amounts, and if it's too high, you might be too overpriced.

Assuming the permits are fine and the work was done properly you need to have a final inspection before you call in for the use and occupancy inspection.

Going through this deal with a fine tooth comb like you have will only allow you to be more sure when the "right" deal comes across your plate.

Clearly if I purchased a year ago, the appreciation would have easily covered the negative cash flow and it would have been a fine purchase.