Auction.com works with lenders to establish Value-Based Bids, which are opening bids that more closely reflect the property value.

The Scope Of Work is determined based on what is needed to do to bring the house up the standard used to establish your ARV.All items are broken down based on categories, and priced accordingly. 

Are you willing to do what it takes to qualify for a mortgage (paying down debt, establishing new credit trade lines, etc.?)

With a portfolio loan this may be difficult, you can try to get them to lower the contract price by 700 or establish a repair escrow at the time of closing to ease your portfolio lenders nerves. 

Demonstrated self respect and respect for others. 

My simple encouragement would be to work on establishing relationships with folks that can help guide you.

We preach establishing your team first before purchase.

I look for partner splits, health issues, divorce, owner wants to retire, owner needs to focus attention on larger properties they own not doing well, death, etc.The business is established a long time and the good price is coming from the sellers need and NOT that the business isn't sound or it's taking a dive.

Once this is established and we have built up another downpayment, we hope to continue investing in buy and hold properties.Any sage advice for newbies?

It's that second group I enjoy speaking with, have respect for, and love to help.