The building is currently "the worst building in a nicer neighborhood" -- You can't see it, but there's a significant amount of wood rot, etc.

I full intend to claim it but wanted to make a general stereotypical statement that when someone makes a relatively small amount of cash on the side, they don't claim it.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Does the winning bidder 'inherit' the amount? 

Technically, this is public information, so they can sell it for any amount they wish. 

The truth is, it's rare that someone with no experience can pull it off and have built in equity at the end and if they do, the amount of equity left is not worth the risk of taking it on yourself.

@Jackson Long Zillow, Trulia (owned by Zillow Group), Realtor.com and the like spend mind-numbing amounts of money in order to wedge themselves between buyers and agents.  

The terms are below.Loan amount: $277,000Loan type: 30 YR VA Home LoanCurrently have $1,500 in debt.Location: Leominster, MAProperty Type: Two-familyYear Built: 1900Credit Score: 722Savings: $20,000Insurance: $1,500Make $66,000 annuallyWith that being said, I feel like I am being screwed.

Instead of looking at the "equity" (which only makes sense if the market continues to rise and doesn't drop) look at the fees/monthly payments and how comfortable you are with paying that amount (even if wholesaling business slows or your house is suddenly no longer worth the mortgage you have on it).