With low inventory and high prices considering the condition of homes to be subpar, I wonder if winning a bid from auction.com would be a better route, giving us the flexibility of rehabbing the home to our style while still gaining equity from the finished remodel would be best or waiting to see how the market performs in the next year.

My lender performed a title search and found that there was a second mortgage on the property.

Have a property inspection inside and outside performed and documented and start eviction immediately according to the steps outlined in the VA state statues.

Crowdfunding makes real estate easily accessible, however, in regard to institutional real estate investments, the advice of an expert who works in the industry every day, knows all the players and their track records, and performs due diligence on each offering is a great benefit to you and comes to you at no cost.

However, I did not orginally account for listing fees so this has also been added to the "repairs" column for upfront cost.Your 4 column questions whether I can perform at the same level of a realtor/ brokerage company in realtion to acquiring, screening and placing tenants.  

Brian H.I self manage, but I run two different analysis.1. with 5% to know it can operate with me getting some funding now.2. with 10% to know it can operate with a PM.My thought is that its better to perform the analysis with the low end of income and high end of expense.

I know of some people that would lend money, if I had proof that I could perform. 

Do they perform property inspections?

Yes you are right that if the borrower defaults your exit strategy would be foreclosure unless you want to sell your non performing note for pennies on the dollar.

I closed on two properties last year, and both have been performing about the same, so I'll provide details on one just so folks who are considering can know some details.Purchase price $98,900, ~25% down, 4.375% interest rate 30 year fixed mortgageThe assessed price for the properties were lower than the purchase price, so I had to provide additional cash during closing (which is why the downpayment turned out to be more like 25% rather than 20%).