$900 seems to be the sweet spot right now and most of those cost 45-55K including fix-up.With all that said, I'm positive I spend money on the properties in ways that most landlords at these price points do not. 

My position as GP is justified with work experience being that I invest and develop for years, and for putting the deal together and bringing the unique opportunity. 

I've seen a lot of positive feedback about Northeast, though I have not spent any time there myself.

Before the house is sold on auction, the owner of the house is in the position to reinstate the loan or pay it off and thus retain a title.

The primary metric you should be focusing on is return on your equity position.

We keep seeing conflicting views but my personal experience with buyers indicates that the outlook is positive.   

@Kevin Akers,You’re in a great position to leverage your equity!

If positive, it's generally treated like income or offsets the liability for that property to $0; this is highly dependent on the circumstances.

If the numbers still work, you’ll be in a solid position to proceed.

You may end up needing to go through the whole foreclosure process which can take a lot of time and cost a lot of money, and you may end up getting the property back in much worse condition than when you sold it, potentially with a squatter in it and months of lost rent, and in a worst case scenario you will be in a much worse position than if you had just sold it outright.