Here in NJ it can take 30 days to close on an auction sale.

Adding  about 2.5% closing cost of 17.5k will bring you to about 50.5k (rough estimate) out of pocket. 

Account Closed      Of course it's a scam. 

I'm closing on my first investment property this week!

The title company, lender and realtor where also unaware until closing.  

But our state association - Ohio REIA watches the local cities very closely on these topics so I see the updates. 

I am also getting 10k seller credit from seller, and could either use that one to buy down interest rate or just pay off the closing cost. the lender is giving me few option one with higher fund at closing and lower interest rate, and one with lower fund at closing with higher interest rate (about 0.2% difference) With the high interest rate right now, do you think it is better to do higher interest rate, and refinance later or should I just try to get as low as interest rate as possible and do not worry about refinance ? 

I'm just about to close on my first four-unit, which is probably typical of what is available in Maine, in this type of neighborhood, at this price point - which is old housing stock, tons of deferred/poorly done maintenance, and relatively high labor/construction costs. 

You are right Account Closed.

Seek out neighborhoods where demand is steady or increasing, and take into account elements like conveniences, safety, and the closeness to public transit.Pick a home that fits in with your long-term objectives.