The people from auction.com came up to me and a few others and asked what we would have bid up to on these properties.  

I am looking for more buyers to expand my network and as well some mentors.

Im also a realtor and have my 1st multi, looking for 2nd and as you know the market is crazy right now.  

We have a fairly rigorous screening process that has served us well and I have no way of knowing what screening purpose was used by former landlord, other than maybe checking for a pulse and a wallet.

If you take a more passive role, you will still amass a great rental portfolio with a little less risk.If you take the active approach then I suggest you have a competent partner or mentor, and assemble the right team in the markets you considered.In the meantime, and as always, continue to educate yourself.

Erasing any potential savings we had, and a lot more headaches. 

That would leave you with NOI of $38k and a cap rate of 9.05%.

I like that thought, and yes, I stand to loose a profit if I don't do this and yes, the flip should work fine and a plan B is in place as well.

The information available is amazing, but also very overwhelming and I am not sure where to start.I'm currently in some credit card and student loan debt and looking for advice on whether it's smarter to get more in debt to be able to start with flipping/house hacking sooner, or to continue to read for the year and a half to two years or more it will take me to get rid of my debt and save enough for a down payment.  

The word on the street is that it is very costly and a burden most renters cannot afford.