Since abandoned houses are my specialty, I can pretty much tell you with confidence that the house isn't worth a whole lot more than what it was previously... and likely worth less as Prohabber said.

I'm sure that you meant if you had a 9-5 that was actually making you excess money (above your normal bills).This whole idea of starting with $100 to your name and bad/no credit is just riduculous.

The town is slowly growing, but has 2 developments started and is jotted to build 600+ new homes soon (the whole town is only 10-15,000 people right now).I'd like to build a 2 story building. offices upstairs, shops/stores downstairs.

How does everyone feel about the whole situation?

I wanted to share this with anyone who is interested, I am not an affiliate or anything, I just have received a LOT of value from the free lessons in this site:http://www.simpleology.comOne of my Real Estate mentors recommended it to me, and I think that if you are serious about achieveing your goals, be it personal, business, or whatever, I think you will see that it helps you focus.Heck, its free, so why not try it?

Your best bet is to ask whoever will conduct the auction what payment method is required by the winning bidder.Watch your P's & Q's on this one, something about the whole deal smells a little fishy.

I am fairly new at the the whole investing game but the owner of the development firm took me under their wing and decided to walk me through the process.

That's a whole other story in and of itself....To keep it short, I had lightening hit my house when I was on the phone and it melted the phone, my computer's wiring, and some wiring in other applicances.

While I do NOT believe that the Administration started tapping these phones, Internet, etc. for nefarious reasons, I whole-heartedly distrust putting that cookie jar in front of anybody in Washington.

As an investor you could actually eliminate the whole negotiating process between you and the Loan Officer or Broker.