@Terry Hershberger Buying in good areas may cost more in the short run, but it sounds like a pay me now or pay me later proposition.

My experience of buying condos through auction is that it can be a risky process especially if you are not allowed inspect the interior of the property before you bid.All the insurance in the world cannot compensate for poor diligence.

In the later, that is just as risky, if not more, than taking on a more complex rehab in my opinion.

I don't have personal experience using this website, but a ran across this review: http://www.highya.com/homesearch-com-reviewsLooking at this review, I would say it looks pretty risky to use them.

I guess I just wanted to know how others would feel about the proposition of of becoming a sort-of unsolicited mentor.

Without the proper knowledge and/or research time, they could be very risky.

I was thinking to get it and sell for 170k "As is"and buyer pay closing on a cash deal. but like you say that is risky with the 21 days coming fast.

I won't speak for Curt but here are my thoughts:Investing is a very long term proposition.

I am simply doing my homework at this point to see if the return for tying up my capital for three years and the risk is worth it and thought I might reach out to the immense talent pool here on BP.

An investor can decide on a less risky investment such as a Treasury where loss of principal is not high at all but the return (through yield) will also not be that high.