Is the value added through re-zoning, dividing the property into lots with the government, or adding a connection to water/sewer lines?

I like the self build model because in my region I wouldn't have to pay the 5% government sales tax when the home is eventually sold (personal house = no sales tax).  

The bones and utilities already exist so that saves you from having to deal with government officials who just want money for every little thing you do on a new build. 

v=3nFj_k6R8G0What's your state/local government's laws on disclosure of it?

I am under the impression that with the new lays governing the condition of properties and recourse taken by the city against these owners may work in our favor.Thanks, Joseph Cobern 

There should be a tag on the well with a number on it , take that info to the local government and they may have the specifications on the well , the depth, the recovery rate , the age , and possibly the size pump , talk to some local well drillers , they can give you an idea as to the possibility of the well going dry .

The city is pumping money in and around these properties and by all credible forecast, they'll only appreciate in value.

There is a steady influx of new businesses including tech companies like Facebook and Amazon into Columbus and as the state capitol, there is always a solid government workforce that is looking for housing.  

Either way, you should check the terms that govern the purchase and sale of the REO on that website.My understanding is that most lenders and auction website don’t allow contract assignment so if you are a wholesaler, this is an issue.You could double-close but again check the specific terms of the agreements on that website, because there could be restrictions to reselling the property straight away.

The SEC web page shows that DF is still under The Laws That Govern the Securities Industry.