In the entire metro area, only 219 sold in 2017.   

We did a 1031 exchange around the middle of 2017 where we sold one property in Phoenix and bought several in the midwest, everything closed in 2017.We did the exchange in a trust and want to move the property to an LLC we own.  

Generally speaking your bedroom needs to have at least 70 square feet of floor space (if more than one occupant in the bedroom need a minimum 50 sq. ft. per occupant), ceiling needs to be at least 7 feet tall, can't measure less than 7 feet in any horizontal direction, needs a heat source, a light source, an emergency/rescue opening, its own door (can't access it through another bedroom), and many people will say it needs a closet (the IRC doesn't have this requirement, but many appraisers use it as a bedroom requirement).If you want to read through the code yourself, I've copied it below:IRC- SECTION R202 DEFINITIONSHABITABLE SPACE.

One other question, maybe a dumb one -- I've heard that it's risky to bid at an auction because you never know what other 'liens' are on a property that's sold at auction.

Most properties have sold for 9k or less because they were fix and flips I assume, but this particular property shouldn't require as much work as it is tenant occupied already and from the pics looks like a well kept together home.

Said lot is 1 of 21 being sold by the developer.

Just saw that the big apartment complex that went in, The Nolen, sold to a new ownership group out of Orlando. 

Was the portion sold just simply "described" in the deed?

Anything you buy as an investment - if we define investment as increasing your overall financial stores, i.e. getting more money out than you put in - has to gain more value than its present day value, meaning that we have to believe that what we are buying is being sold at some kind of discount relative to its potential.

I’m still feeling my way around but right now I think I’m going to arbitrage notes as a first exit strategy.Just picked up a note yesterday and should have it sold in a couple of weeks.