If you're broke, where are you coming up with the balance?

There are checks and balances  that keep properties' assessed values from increasing and decreasing substantially.

Assuming that this auction was deposit only the day of auction, you could just not pay the balance.

Well the number 1 most important thing to have is a sense of humour.I didn't mean to be harsh in my last comment but sometimes just because you ask the question in a variety of ways, as you've done on other posts, it doesn't change the answer.I'm hoping you get more responses to this thread so you might feel you have a more balanced response if it seems biased to you.In the meantime, learn as much as you can and best of luck in finding a place that will fit within your parameters.

Investing in class C/D areas is your choice but you need to grapple with the risk/reward balance.

Also need Assignable Contract that states "1/2 deposit to investor (me) and balance to title company at closing".If anyone have that type of contracts, I would very much appreciate that.

Let's just say I started doing a lot more checks and balances very quickly lol.

Do you know the balance and terms?

Conservative ARV: $29,488Rent: $500Repair Cost For Rent Ready: $6,000Negotiated to $12.5k "lowest they will accept"Would consider terms at $5k down (asked for 0 down but stated $5k was minimum they would accept.) and $250 a month until balance was paid.Assuming tax/insurance around $100 a month the month expense would be $350 for a spread of $150 a month.A local investor pointed out that I should ask for 60 days no payment to get the house rent ready and a tenant inside.

Give her a certain amount to help her make her move but have her carry the rest while you rehab the property.Once you rehab the property, she can get her remaining balance at closing after you fix & flip the property.