People who are willing to lend to people they don not know tend to fall in the category of Hard money lenders. 

You'll find that a 15-20% cash on cash return (after paying $ costs) is going to be a deal that brings in very solid profit and is lendable by private $ standards.....and that is most likely going to fall in the 75-80% rule, rather than 70%.

Dutch auctions and silent auctions are not new. 

You're on your own, so don't fall into the trap of thinking your agent is your buddy.Only you know what you need to make this deal work.

I've had people like you describe move in and do well for a couple years and then fall off the wagon.  

Agents HATE putting a property under contract just to have it fall out.  

My goal is to purchase one property a year beginning fall of 2015.  

Their fee is worth every penny in peace of mind, regardless of whether they find that the house is about to fall down or that there's nothing to worry about.

Some cities also publish a list of properties that are condemned or are falling behind on their tax obligations.

Hey Nick, I'm Frisco and we put down some sod last fall that came in great.