Sometimes you see these small opening bids, but they are second position loans behind much bigger senior loans that won't be extinguished at foreclosure.So you might pick up a $200K property for $10K with a $250K first position loan on it. 

It is my experience that it is very rarely the same as the judgment amount announced by the sheriff.Before bidding, it is very important to know the position (or seniority) of the lender foreclosing.Because it determines who gets paid first and who could get nothing from the proceeds of the sheriff sale.For example, if you are the highest bidder on a loan foreclosed by a second position lender, you would still have to come up with the amount to satisfy the first position loan before you can take ownership of the property.Effectively, you can lose ALL of your money if you don't know if you are unlucky, have not done your research and don't know what you are doing.It is recommended to always have a title research done before bidding at auction.That is expensive and for that reason, it is my impression that very very very few people bidding at auction do that research.

If they approve it I'll will let her move in but I'll have to stress to her not to make that room a bedroom.And Mary you're right, my ideal tenant for this particular place was really a student or a senior.

My name is Will and I am a senior in college on the verge of graduating and stepping into the realm of the adult world.

When we were involved in apartments, we always had the C-rated apts in the rougher part of town and dreamed of someday owning an A-rated apts filled with seniors.

Citizen from renting from me? 

I am currently a senior in college new to real estate investing.  

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

My advice for finding contractors is go on acela citizens access, this is the public portal that shows all the permits in Tampa.

I had a more senior co-worker early in my professional career I viewed as a mentor.