It's what I call, ' Thinking outside the casket' (outside the box).While not especially creative, going to court and overbidding has been a strategy since 1852 when California's first probate real estate laws were enacted after statehood.There is an overbid formula that you and your agent must follow.

We did get a new-in-box big screen TV (50", but about 15 years old), a new water heater, some tools, a couple 8mm video cameras from the 1960s and other random stuff.  

I sign for certified mail addressed to others that comes to my PO Box (my husband, my daughter) and I'm never asked for ID.  

I did most of the repairs myself and through friends: spent $1500 on electric and lighting. $1000 on plumbing. $1000 on carpet/paint, and about $1500 on kitchen and bath tile, sinks, toilet, etc.

The worst that could happen is that it gets sold out from underneath you, but even then the only thing you're out is the time you've spent thus far marketing it.

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site.http://www.biggerpockets.com/starthere Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

As a newbie wholesaler I spent way too much time spinning my wheels.

So I "wasted" $2000 out the of $30,000 we spent on our renovation.

On top of that, he spent another $5k based on repairs that came out of the inspection.

Here are a few recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.