Rents in this area go $1,200 - $1,500 and buildings in good to excellent shape sell for $310,000 - $350,000.I am looking for financial help on this.

Make it a win win for everyone and everyone will be happy.

Sacrifice for the why and go out there and win!

At the auction, there is spirited bidding, and the winning bid is $20,750. 

I've been a software developer for 17 years specializing in Microsoft technologies and have my BS degree in Information Systems.  15 years ago I started learning about RE investing from a co worker that was embarking on this journey, and I read books like Rich Dad Poor Dad, Cashflow Quandrant, Total Money Makeover, How to Win Friends and Influence People, and other various "motivational/self-help books".  

Great tenants come in all packages...and smells 👃 ---Just change his to a pleasant smell for a win win situation.

If you're looking at a 250 unit complex, you're probably going to get a boat load and actual numbers.You need to use market rents to buy, not your forced appreciation that you may obtain from your excellent management skills or your fix it abilities.

You want to make sure the seller knows your intentions for the property going in so there isn't bad blood at some point during the whole transaction; but these transactions can work out to be very nice win-win scenarios for both you and the seller at the end of the day. 

So on that score, frankly it was a win-win for everyone.

If I am the winning bidder but do not " like" the contract, can I back out?