Purchase price: $144,000 Cash invested: $33,000 Bought off an auction site, it was an REO foreclosure, took 5 months to get occupants out, and then proceeded with renovations in March.

Some advisers say "never buy without an inspection" but then again, people buy at the county auctions every day without even being able to step foot inside the property ahead of time.I would say that in a condo, there are much more important factors than things you'll find in an inspection anyhow.

I can't seem to figure out how long property taxes can go unpaid until the property goes to auction.

I can't seem to figure out how long property taxes can go unpaid until the property goes to auction.

My county is doing it's yearly auction on properties with tax leins on them.

I assume that the seller bought it at some type of foreclosure auction......a mtg foreclosure or tax auction?

I've considered an auction but doubt the min. reserve would be met.I am currently trying to get a new roof and repair outside to curb appeal but inside is gutted to the studs. 

Purchase price: $300 Cash invested: $200 Sale price: $2,600 I bought this property at a tax auction What made you interested in investing in this type of deal?

you could do a lease option, or  a delayed settlement with right of possession you could give the seller a skinning contract subject n an auction, you keep the overage juicemaybe offer to buy the mortgage at a discountyou could do a management agreement with purchase optiona simple "wrap mortgage" would workpossible create an LLC for seller with one asset, buy the LLCif you take property "subject to", make sure you have the deed signed and held in escrowhave a management agreement signed, so the lender can be notified to communicate with you in all matters related to the property and mortgage  - this will help to prevent due on sale clausehave a written "meeting of the minds statement between all parties to the transactionmake full disclosuremake sure your assignment clause is in orderget a title searchvideo property before possessionmake all mortgage payment on timeif there is some equity you could put together a partnership to rise some cashcanvas all other owners on the street for more deals, record the deed and get a new mortgage (but always ask first for a pay-off discount before closinggood luck 

Purchase price: $145,400 Cash invested: $50,000 Sale price: $258,000 We purchased this home on the county foreclosure auction.