You can still get your bank, credit union, hand money lender or rich uncle to finance it, they just have to be able to come to the table at closing and pay for it.The auction site works a lot like ebay. 

Eventually, someone can't understand why their purchased material, in pristine condition (still inside shrink wrap) has not made them money while sitting in their underwear at the kitchen table and they complain to FTC or sue.

You may find unique areas like this in some markets.

For this to be a good deal I think the seller would have to bring money to the table. $20k for you to buy it at retail and hopefully make it cashflow.

What about a place that has pool tables, arcades, etc.?

@Johnathan Butler  Multies have their own unique sets of risks.  

TAKE THIS OFF THE TABLE.  

I currently own 3 SFH.I have a deal on the table for my first duplex.

Quads to me are a unique beast because they almost produce enough income to be a commercial property, but not quite.

I realized that they all have something unique (and sometimes not unique which just pounds the message home) So I have notebooks for each of the Strategies that I take notes in.