That's one helluva gamble with absolutely no guarantees that they will call off the auction.

My wife also had the notion that investing was pretty much the same as gambling.

It is just my opinion but, one of the things you might want to do is start by talking to a lender (after you've made some local contacts in clubs etc to immerse yourself in 'the culture' with the experienced).

This would be a fixer up and not something I would want to gamble on for my first MHP...

I immersed myself in this business for many years.

Without any income coming into you weekly you are taking a gamble that this free mobile home will be quick to repair, attractive to buyers, and lucrative enough to generate a nice payday or monthly income when rented or sold.

Listening to the podcasts is a great way to immerse yourself into the REI mindset.

I just wish I could write off my gambling loses when I go down to vegas, but the CPA says that won't work.  

I imagine those that deal in prostitution, stolen merchandise, fake merchandise and illegal gambling may also launder their money.  

I will say, NJ is a gamble with crazy property taxes, but there are loads of people making it work.