As an investor event's like this make me stay away from investing within 5 miles.I have decided to open up my search range within an hour out of the city such as Yonkers, Northern NJ, and even a little further.Also as a primer on calculating ARV to compare two properties use this file http://www.biggerpockets.com/files/user/JasonScott/file/estimating-arv by @J Scott

In the recent survey done, it was estimated that many people who are expending on per month basis on the rentals want to switch it to mortgage so that in the process they will be acquiring the property.

Not to mention being able to estimate the amount of work needed to determine what the maximum allowable offer should be.

Additionally, I presented the business plan in four business plan competitions - placing 1st in a state competition and 1st in a national competition.Therefore, I feel with over 25 years of home building experience in design, estimating, site superintendent, purchasing, land development, as well as marketing and entrepreneurship, equip me with what is needed to succeed in real estate investing!

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Secondly, know if the auction is going to make your property free and clear of if you need to look at leinsthirdly, you need some sort of rehab estimate. 

In some cases, when the repairs require it we have a contractor inspect and provide and estimate during the inspection period.  

That being said, you need to be very careful about your ARV and rehab estimates before moving forward.

Now when i check it seems a lot less certain. now it says things like "estimated value" "est remaining balance" "est equity" ect ect ect.