Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

I could see notes as the ultimate exit strategy with free and clear holds.

Welcome @Nancy Finley   While dont haev much expereince as an agent; BP did write a  guide ; The Real Estate Agent’s Ultimate Guide to Working with Investorshttp://www.biggerpockets.com/forums/21/topics/9860... 

He will be lucky to sell it for 200k sometime in the next 6 months in my opinion. its a large home, a home that would attract a large family if it wasnt for the busy street out front that would stop the heart of any parent if their kid ran out into it. thats ultimately what your trying to put a price on

If each post had a button you first had to press, which classified your post as "conjecture" or "fact" - the forums would be saturated with "conjecture" icons.I'm also amazed at how completely erroneous podcasts are allowed to survive, mostly as a result of the business model employed to support the website.

My ultimate goal is learn as much about real estate, start investing, and ultimately build a portfolio that will allow me to work for myself.

Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.Also - here's a couple articles you might enjoy:The 21 Best Real Estate Investing Books Ever How to Rent Your House: The Definitive Step by Step GuideHow to Be a Landlord: Ten Tips for SuccessFinally -be sure to setup some keyword alerts - especially for "Ocean Springs" so you can jump into local conversations.See you around the forums!

If you had the cash and the knowledge of researching title to ensure that there were no other liens that survive the trustees sale, you could buy it at the auction (assuming that no one else outbids you by paying more than $190K which all it's worth at auction).  

Welcome to BP @Kevin Coleman  Since yo are new be sure to check out the Ultimate Free Beginners Guide

I look for buildings that are being run inefficiently, or are available at what I think it is a low price based on their potential income or ultimate sale price.