Every state has different laws on auctioned hoes, those homes tend to be in bad shape and have a redemption period for the previous homeowner to pay delinquent property taxes which prevents any work on those homes until that period is over. 

I have 2 choices: 1) Pony up the $3,000 out of MY pocket to get the job done (I don't need to bring this money to closing, but I do need to demonstrate to the HML lender that I have the funds to make it happen), or 2) Simply adjust my budget down by $3k.Let's say that the lender charges the following:3% origination fee ($65K *.03) = $1,950Appraisal Fee - $500 Pro-rated Interest (one month) - $380 Title Search / Title Insurance - $175 Pro-rated Property Ins. - $100 Pro-Rated Taxes - $400 Settlement Fees - $400 Recording Fees - $100 Wholesale fees (if applicable) - $500 Since "No Money Down" is not an option, I'll will need to pay these fees up-front in order to get my $65,000.

I still don't understand why someone would pay retail for a trustee auction property with no title insurance or inspection.

But the rental property cost of insurance is twice the amount to put the property into an LLC vs putting the property into my name. 

The homeowner wants 300K.

Plus, banks/title/insurance people start noticing and you find top performers there too and it just trickles through the entire buying process.

Looking for insured contractor recommendations in the Denver/Commerce City area.

Do you have an impound account for taxes and insurance? 

You would want to see his license and bond and insurance.

I wanted to start making calls to absentee home owners and distressed properties in my area, but have a big interest in pre-forclosures I would really like to help people out of a situation like that and already know that the seller has some type of motivation to sell.