hello KimI'm newI'm a licensed  gc  in  calif  builder/ investor 30 years experience  in lake arrowhead ca  and high desert my advice , keep this close to you, don't employ realtor at this time , first you should approach, hall of records  search out ownership, physically  so you understand  simple puplic  search example  is he owner, clear title no encumbrances,  you'll see a surveyor plot line and stamped  engineering, print all documents,  then proceed  immediately to  building dept, talk with planing for this specific lot,,   you might just discover  it's small in lot size and or land locked,,,  or it might have a grandfather Claus  now you'll  have your ammunition,  for pursuing,  on a land contract ,,,  beware of  how he purchased  online,, and  here's a fact ,   I have purchased lots  amongst  the feeding  frenzy of  builders who oNE reason or other overlooked, or could not in fact figure out the build,,,,,lastly  my saying  it was min to begin with    best regards  on your  hunt 

I am on the hunt for my next project.

But you have to do it regularly to find the true gems.Good hunting! 

Happy hunting! 

Also, there are plenty of ways to purchase other than at auction; many of these will allow you the proper due diligence.Happy hunting. 

But I am trying to broader my neighborhood hunting so hopefully i will find something that works for me.  

I hunted around, and I don't believe there is (I believe this is separate from the 150K AGI limitation on taking passive losses against wage earning income).  

I have to agree, every member of the team is really important.I do feel the most important person is a real estate agent that is willing and able to work with you as an investor.It takes a different kind of skill set to deal with investors.Most agents are used to selling based on getting the client emotionally attached to a property and are willing to stretch and compromise.Investors care about the numbers, location, how it fits in their portfolio, how quick they can view, etc...Plus investors are on the hunt for deals, so it is sort of an open relationship.Michael P Currie

Thanks for the advise, i am in the understanding phase and i feel like i am ready to take the leap and hunt down some deals! 

They want to have firearms in the home to hunt with, that's their business as well.