Great place to invest if you know what you are doing, but can loose a bunch if you don't.

The thing is mostly read that actin dot com contracts are mostly one way where buyer looses most of their rights and I'm sure there is a reason for them to get you sign and send everything in 24 hours....ppl click i agree when they register to bid and mainly they loses rights right there.

Bi-lateral contracts require both parties to perform a unilateral contract requires only the party who made the promise to perform will be bound by the contract terms.

I did not have the opportunity to enjoy the management part of it when the crash of 2008 came, tenants began to loose their jobs were not paying the rent caused my loan to default and went into foreclosure along with my other real estate investments.

Will you loose your PMI?  

Bottom line is that he is correct that you must be careful that you don't take so much out that you loose all the benefit of the tax deferral.

Because they hold the loans in the bank's portfolio, they are not bound by the same regulations that apply to loans that can be sold on the secondary markets.  

Your buy price at ~90 per square foot is great for the neighborhood, but your $165 on the sell side is out of bounds!

Loosing your first property is like having your heart broken for the first.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.