I went with a local bank and they actually don’t have a seasoning period, which is the main reason I chose them.

I've never bid an estate auction before, in a situation where there's really no floor (i.e. the bank is going to bid what they're owed), so I'm not really sure what should be the way to go about this - and I personally have a lot riding on being the winning bidder.I'm open to hear anything and everything.

If you have patience and can qualify, there are some banks that have rehab programs for flippers.  

Yes, there are instances where a loan may be assumed but I am unaware of any change that allows us to use our benefit for an investment property.If you are on active duty the UCMJ is going to be much more harsh that the typical slap on the wrist civilians get for what is essentially bank fraud.     

Creating an LLC could be fast and only taking a few business days.You can also get your EIN imediatly online when the IRS website does not crash like it did for one my LLC and I had then to revert to fax and wait 2 weeks for the fax back.However getting a bank account could be an ordeal with certain banks and take over two weeks for their compliance Dept to approve it.Last, if your lender is ok with it, it would be better to buy your property dIrectly under the LLC name.

There is the offer, approval, inspection, inspection release, survey (this is a big part of what slows things down--NY does warranty deeds and banks require a recent survey, and there are only so many surveyors, so it can take awhile), title search, title defect curatives, clear to close approval from the bank (and this generally has to go through some committee that meets once a week or less), scheduling close. 

I need help figuring out how to finance this deal where I don't have to put 20% down of the purchase price for a bank. 

I went to college at UB and rented for 4 years like an idiot; I'm still kicking myself for not purchasing a home while I was enrolled there.

Also, what is the risk of bank calling the loan and what happens if they do.Balance $102,500As-is value 125k (with minor repairs)10k repairs ARV 130-140k25-30k repairs ARV 160kPITI is 1,000Market rent 1200-1300.I would love to hear your thoughts on what would be the best scenario and what you have done with subject to deals.

Or if you want to get rehab loans through a bank, your options would be a 203k loan (if you intend owner occupy the property) or a HomeStyle Rehab loan if you do not plan on it being your primary residence.