Went to a drive thru, ordered food for the whole family.

(i know i am taking the risk of the seller selling but the bank wont know and cannot call the loan due correct)?

You need a contract for the the seller correct.

I'm thinking NNN (fast food joints, banks, drug stores), self-storage, strip malls.

The biggest mistake on rehabs (besides not comping correctly) is to under estimate the rehab work, even on light, cosmetic stuff.

If my math is correct I will probably just sell and wait for the right deal to come along.

Here is what I think I'm reading:The Lender's bid amount ($137,040.00) is the minimum opening bid amount.The Deficiency ($29,036.52) is the difference between the minimum opening bid and the total amount owed on the home.The Total Indebtedness ($166,076.52) is the total amount owed on the property.Am I reading this correctly?

Jon is correct 100%.

It is kind of different with a property in the 500k range- not doing a few updates or handling things correctly can cost you 50 to 100k.

We ball park estimates on rehab before offering and once we offer then the GC checks out the property to confirm if our numbers are correct.