I am new to BP also new to real estate investing I've read up and studied a bit and I'm ready to jump in.

They are in their early 60's and just found out that they have a little over $40,000 from an old job's retirement account that they had in their early 20's.

I'm an accounting/finance professional, and my wife and I decided 3 years ago to take the plunge into real estate investing.  

That really reduced our costs and allowed us to invest more in retirement accounts.

I'm looking for an excellent tax accountant!

I use Ally financial for my rental checking and rental reserve account, about the best interest rates you'll find for FDIC insured bank accounts.  

Remember, most are unlicensed and brokering without a license, have no accountability to state boards, operate as fringe operators skirting laws, may be correctly called public nuisances, have no insurance, etc.

I'm still in the process of studying up, so I can have somewhat of an idea of what I am doing.

It is my understanding that if you win a bid on a property your money is tied up in an interest bearing account until one calendar year has passed, giving the property owner a grace period to become current on their property taxes.I realize that there are many deals to be found at these auctions, but I'm wondering if it is actually worth it.  

Account Closed and you can alway open a LLC down the road once you have other properties, then put that duplex into the LLC.