If that is what your final agreement is.  

I don't understand all the terms completely such as "final judgment". the auction is tomorrow and I'm not sure how to bid because I don't know what will be owed if I do win the bid. how can I find out all the pertinent information.any help would be much obliged!

Hi there.It's great to finally find a community that has the same goals.

Finally, $1500/month for rent seems high. 

I'm sure there are other options out there that include corporations, etc. but my gut says that you're really stretching here and there isn't a benefit to what you're trying to do.

I am in the middle of a deep rehab on another property; 2 SF vacancies + getting into a new deal might stretch things a out of my comfort zone.

I’ve been in analysis paralysis for the past 8-10 months, but finally ready to dive in.

It's also a good market if you're using conventional financing and need to put 25% down on purchases because your capital can stretch due to low (relatively speaking) purchase prices.

I finally did, in January of this year, and have been enjoying it immensely. 

Finally I've done several house hack deals recently utilizing a 5% down conventional ARM loan to purchase a 3 unit as well as a 4 unit property.Starting locally by house hacking is a safer investment than going out of state.