I just had this idea, come to my head, that if I went to school for home inspection and for appraisal, then I wouldn't have to hire anybody to do it for me, when trying to make deals.

The other bad part of buying properties at auctions is that you don't have an inspection contingency.

Would it be a wise idea to make an offer like 215,000 subject to inspection then if it needs a new roof or something try to weezle some more in?

They had an inspection and noted that the gas water heater wasn't working.

What I mean by "look at houses in your target area", is that you need to physically go out, go through and inspect a lot more houses in your area before buying one.

If you feel that way, then you are closer to being a lib then you think.

That will cause your insurance premiums to be much higher as well.If you were to lock this up at $1.4-$1.5M, you would have an incredibly hard time finding a buyer willing to pay that much + assignment fee.As far as a contingency, you obviously don't need a financing one, but a simple inspection period would suffice to allow you an out.

What happens if I find a buyer, but the inspection period has lapsed?

For example:- Advertising Costs- Lawn Care- Termite Inspections/Repair- Capital Expenses- Property Management (if you *ever* plan to use one)- Utilities (during vacancies)- Administrative- Accounting- LegalLastly, your vacancy rate is assumed to be under 6%...is this really feasible for this location/property?

They only ask for a certain percentage, but you won't be able to get a mortgage if you need once since you won't have an appraisal or inspection.