I was more happy than scared on my first rental.The first time that I signed the cashier's check over to the auctioneer at the courthouse steps was scary.

What are the pros and cons of purchasing investment homes from the auction?

These notices of foreclosure sales are letters we mail to people who have until anywhere from two weeks to three weeks before the property is sold at the court house.And some of them are repeats, as in they go to auction, no one buys and then we send another mailing and the process goes on.

My bias is that offer sounds like I'm bidding and I'm adverse to auctions as a buyer.

I submitted a proxy bid prior to opening or they will put a $10,000 bid themselves with a $20,000 next bid.With my auction, the auction started at my bid of $10,000.

I am planning to attend an auction the next time it comes around, not to bid, but to simply see how it works.

That is what operating an auction ring is all about - controlling the bidding across the board.

If you are buying the REO at an auction you, the buyer will pay all liens.

If you are competing with hedge funds you are either looking at listed properties or auction properties.

So, with NO intent to hijack the thread (you must read to the end to see that I do not) I offer to @Andres Piedra and you, the following FEW things that I did right and the many that I'd do differently.........in no particular order....they are ALL important in their own way:Find TWO things/actions to praise for every thing/action you must correct or punish.