They failed to meet their financial obligations and filed for bankruptcy.

But, for every one you know of, there are a million that have failed that you never heard of.

If they fail to follow through with renting the property, they forfeit the Holding Deposit and I put it back on the market.

Your $81 CAPEX budget you will be able to replace the roof in 92 months providing your central heat and air or any other components fail.

Before doing business with someone it is perfectly OK, and prudent, that you ask about their experience and put eyes on your future asset.I see A LOT of "mentors" in today's market who failed at real estate investing and are trying to make their come-back by pulling money out of the pockets of newbies who are afraid to come across as rude by asking important questions. 

-I highly doubt he is licensed as a contractor(Texas does not require), however if he is an electrician I would pursue a complaint there if he did any electrical work as part of his management and failed to account for the money(Longshot but should put more pressure to make payment)The reality is that getting a judgement in Texas still means you have a very little chance of collecting. 

It's important to ask yourself and partners to consider each and every reason this deal will lose money, fail or become a money pit.

You have time to fail and recover. 

And, some of Auction's properties had a reserve and failed to sell the first time, requiring them to 'Extend the bid', which means they'll auction it again once they finish the other properties.Enjoy it and let us know how it goes.

Np...also they say experience is the best teacher, dong be afraid to fail