3-Lets say I bought one of these judgments and I know there is no mortgage or liens on the property will I be the owner directly or is there any other steps i need to do I heard that I need to close in 30 days or so which i have no idea about.4-Lets say I bought one that has a 1st mortgage and Im liable for it...what should I do I mean whats the next step after wining the bid at the auction.5- Another Scenario: a company suing and owner and won the judgment for 550k (the owner has 2 properties one of them is a land that worth around 80k in the market and the other is a house that worth about 600k) the sheriff is selling the land only at the auction not the house, what happens if I win the bid will I just get the land and the company suing the owner will go after the house that hasn't been scheduled for sale yet to satisfy the rest of the judgment?

I think having a track record, having a type of deal that people are familiar/comfortable investing in and selling the deal correctly helps quite a bit too. 

In upstate south carolina once a "deal" hits the mls, there are so many offers on the property that it creates a bidding war above list price.   

@John Casmon and @James Kojo  that's absolutely correct.

How can I get past my hesitancy to do deals and learn how to use the formula correctly?

I agree with the downturn sentiment but I don't really have any evidence to base it on, so I am just building capital until a) the market corrects itself (which is not likely to affect my market very much anyway) or b) I have enough money to pull the trigger on something.In any event, the numbers don't lie.

Harjeet Bhatti I like to assume people live below their means but you are correct that sometimes a higher income just means higher debt as well!

And to promote it, they promised the 1st five properties they auction off they promise not to set a reserve price, or bid on it themselves.

I figure the safest way for the buy and hold would be to place them under an LLC, if I understand you correctly your recommending I keep the companies separate ?

@Drew Poniewaz you are correct on this one.