Thanks Karl, So if the second is washed away, in this scenario, there is a huge hit being taken on behalf of the banks, which I guess makes sense if they want to just rid themselves of the property but it still tells me that they know something I don't in terms of the actual value...I feel like I am definitely not the only one who would see this and if there were no bids at the first auction, am I right to assume that there is something terribly wrong with the property that I am looking at?

In real estate, equity is typically structured so that all investors earn a preferred return until they hit a certain annual return hurdle (i.e., 8%).

Dear BP Community,I am about to close on a 3-family place in Kearny, in Northern New Jersey and I need your advice.

I personally havent heard too much about Northern Kentucky 

Grant Thanks Grant,I feel like with the last home we simply didnt have enough down payment (roughly 10%) to absorb a hit that we took.  

Tough decision, right now I'm looking at property which would hit the 1% rule - about 1.18%.

SO it would take OVER 6 foot tall person to hit head,,,would the 'expect' to duck under in OLD house,OLD basement???

@Chiagozie Fawole hit it on the spot.

Next hit up a place for dinner and more drinks, probably a nice whiskey sour at Butcher and The Boar.

Welcome to the world of Real Estate Investing and the many opportunities available to you.You made the first step in connecting on the largest social network specifically for the Real Estate Investing industry.Take the time to explore all the resources available to you.Networking is how to succeed in this space and as such I wanted to give you an open invitation to feel free to reach out to me at any time.I am located in the Northern Nevada market and doing buy and hold, wholesale and fix and flips… Best of luck with your Real Estate Investing Career.