@Stephen LoguidiceIt is NY prices just keep going up,  bought my house in Brooklyn a year ago for 75K bidding war. got it at 825K its worth now 1.1 million.

Does it have a time limit in hours to come up with cashier's check as it is next impossible to walk around with million dollar cashier's check.

It is sounding like the reserve for the auction is over $1 million, which doesn't jive with a 10 cap buy price, however, there appears to be massive upside on this project.  

I have not experienced that myself because I would never do that, but I have read about it.Not considered a high grade material, so not something you would really want to put in a million dollar home.There have been some incidents where some brands have contained physically harmful chemicals that off-gas into the home and make people sick.  

Unless you are famous, worth millions and/or buying commercial property I wouldn't bother.  

Assuming the rents cover your expenses, in 30 years when you’re in your 50s and the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that cash flows thousands of dollars per month at the cost of a measly $10k or $20k or so out-of-pocket when you were 20-something.

According to statistics, 60 million people in the US live in condos, that's around 20% of the population. 

Much like in CA were you have millions of platted lots that the roads were never put in etc..

These oil companies might save 100 million dumping but only pay 10 million in fines at the time.

Originally posted by @Daniel Morgan: im in western ma and the market out here is pretty dry You are in a major metropolitan area with over 1/2 million people and you don't think there are any deals being done locally?