REI has historically been very competitive.Cash is not king in real estate investing...deal flow is (lots of it).If you don't start now, you will have no experience or relationships if a correction occurs.If a correction occurs, lending/capital sources can dry up.Investors over-estimate their ability to pull the trigger when prices are crashing and there is no end in sight.If you can generate even a small positive IRR from real estate during an economic recession, idle cash is the risky choice (and is very costly over long periods).All properties and markets will not loose significant value in the next down cycle (real estate is local and good locations will always perform well).Investors can add as much or more value to a property than the potential loss of value in a downturn.If we have capital that we have to put to work, prudent real estate can be the flight to safety.I don't like investing into a hot market but sitting on the sidelines for years is not a viable strategy...just have to be really careful.If you are a market appreciation only investor, ignore this post...that can require some market timing.Interested in everyone thoughts.

We started getting bids and guarantees from city government, Burlington Northern Railroad,  Utilities, Carpet Layers, House Movers, Insurers,  Landscapers, etc. 

We tried multiple times to get the document corrected and even to just get a blank copy to complete ourselves..nothing..another waste of money.

Are you planning on using this attorney in the future or just to make sure you set up your entity correctly?

How does the Auction Process work, how soon after winning the bid do you have to come up with the money? 

You can even ask something not true and see if they correct your. 

To me, I’d rather have the job done correctly the use a cheap contractor that does half a job, then run around trying to find another to fix the mess.

I looked at a couple of houses in Honolulu that were basically tear downs and if I remember correctly, they were in the $1 million range.

A couple thousand cheaper than the next lowest bid, and more thorough in explaining options.

If looking at this correctly, it will place us essentially into the "financial freedom" area we've been striving for (but we will still keep our day jobs).