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. 

I'm not sure if you did this or not correct me if I'm wrong.

You should not expect to get any better deal if you "charge a commission" or not.Everyone else is correct.