He leaned over to me to ask a question about two properties he was going to bid on that week.  

For this specific deal I was looking for an agent who was also registered with HUD and could submit a bid on my behalf. 

At Bigger Pockets, you can reach out to other real estate investors while completing deals successfully and correctly.

Was there a bidding war with other buyers?

Hi Darren,Diane and Michael are correct; under Section 121 of the Internal Revenue Code you (as a single individual) can exclude $250,000 of capital gains from your taxes if you have owned and resided in the house as your personal residence for 2 out of the 5 years prior to the date of sale. 

I tend to agree that the market is likely on the higher end, but we have already seen our first nice correction starting from July of last year to Jan '19.  

Our above gentleman are absolutely correct in what they’re saying, but nothing beats driving through and laying eyes on the neighborhood just in case it’s one of those hidden gems.

This can work out for you but your risk is in buying the correct property with good mechanicals and modest deferred maintenance. 

Is this correct?

I need to make sure all the paperwork is filed and filled out in the correct places and in a timely manner.