The only way this could be a better deal is to sign for a loan that you don't actually know what the rate, term or loan amount are.Josherz, you got the ticket now.

One thing about Auctions, people get emotional and spend way more than they should, don't be one of them.Other than that, make sure ARV supports what you are trying to do, talk to an agent about it, may be pay a little to get comps.If you can go in the house with your contractor that is great, since you are newbie, I assume you dont have one so check big ticket items like roof ( any indication of leaks), electric panel and electric in general ( if it needs to be updated or not) go basement to see if there is water damage, rest you will not be able to tell  when you are newbie anyway.Don't buy a house when you can see the sun from inside walls :D))

I also got ticketed and attended some kangaroo court, the inspector wasn’t even there, I believe the fine I paid was about $500.

Absolutely horrible that someone thinks they can do this to you and get away with it. 

I also worked at the airport for a bit after high school- was a ticket agent or AirTran.

Yes, if you're interested in cash flow, gotta get away from the megalopolis!

You might get away with installing the new mini-split system upstairs and disconnecting all the vents so the furnace/ac only works downstairs.

TN & FL are the sweet spot where weather is nice year-round & properties aren’t too expensive (as they are in California & Hawaii).

Chances are a slip and fall will cost less then 2 million - even if a judge finds you at fault (remember, your property is up to code, you have handrails at the stairs, you have a snow/ice service etc) Also, you are leveraged, so you don't have a whole lot of equity/net worth to come after, which makes it less attractive for an attorney to take on a lot of work, for maybe a little payday.If all that is not enough, set up an LLC - it acts like a firewall if done correctly and contains the financial damage within the entity.The other way round, here is what NOT to do: own a 3 million dollar appartment building free and clear so it's pure equity to go after, in run down condition, with burnt out lights and broken handrails on an icy winter day and nobody comes to salt, next you forget to pay your insurance and of course you don't have an umbrella policy.

They have tenant screening reports and then other useful tools like rent collection and maintenance ticketing.