Has anyone had experience/success in contacting owners of properties that failed to sell at public auction, shortly after auction closes?

I like the idea of 6 months of opperating reserves if everything fails.   

One thing you are failing to account for is the HUGE amount of money in the Bay Area chasing assets like real estate.

I am profitable enough to do just about whatever I'd like, including "Go big or go home"... in other words, if I did something in REI and totally failed, I've got enough back up income and assets to have a home where I could go!

Passing a cash-per-door test doesn't mean you have a good deal but failing it means you probably have a bad deal.

There's such a thing as no-money-down investing that sometimes works and sometimes fails spectacularly as it gobbles up your reserves.

I'd rather put my effort into enjoying life that fighting with a partner.With about half the marriages in the US failing, I would think that a partnership would have a bigger failure rate,   So why bother with a partnership, unless you are desperate for something you need in the relationship? 

The tenant was notified of my filing, failed to appear in court and I was awarded the motion to substitute party.

Even though that was my worst case I already knew in my mind I wasn't going to fail.  

Just fail quickly and those lessons will be invaluable.