Keep in mind your numbers aren't taking into account insurance, taxes, capital expenditures, or property management.

Whose job is more stable?

Without my degree I wouldn't have my job earning a solid W2 and providing retirement and insurance benefits for my family.

You want to build your investments on a stable foundation, you can not do that with bad debt pulling you down.Additionally to be a successful investor you must be financially highly structured.

If you do not pay at closing of auction you will be liable for 20% of property value plus fee's.You will receive a sheriff's deed without warranty, you may not be able to get title insurance on the property.

Neither the other driver nor their insurance company can demand that they are only responsible for paying you, if you get the bumper fixed. 

I come up with negative cashflow.Income & Expenses (Annual)Gross Annual Income: $24,300 Insurance Expense: $1,440 Gross Annual Expenses: $2,120 Gross Inc Multp: 11.32 Net Annual Income: $22,180 Capitalization Rate: 8.07% Taxes: $3,761 List Price: $279,900 The above is what the listing gave me... using std 4-6% interest over 30 years I keep coming up negative.

It's also very easy to make stairs covered with a runner the centerpiece of a simple insurance con with a starter email that looks exactly like this one.

Just say that your insurance carrier wants you to do a safety inspection and to provide updated pics of the interior since it's been a few years. 

I run a real estate, mortgage, and insurance brokerage in LA and am always looking to connect with other investment minded individuals.