The opening bids averaged @800.00, but quickly rises to 2k.

I recommend two other very important considerations when purchasing your first properties:Macroeconomic Trends: Know what's going on in the economy (and projected outlook in the next couple of years) and how it will affect your RE purchases.Local Knowledge: You should find local brokers who focus on multi-family investment clients.

Thanks again for your time and consideration!!!!

I'd be able to save a considerable amount of interest overall, 2. the cashflow I'd be making on a fully-paid property would eventually (over several years) make up for having dipped into my pocket when I started, and 3.

They are always the first to depreciate when the market takes a dip, they are always the last to appreciate when the market rises, and there are so many factors outside of your control from a value standpoint. 

Another consideration is if lease rates are at market, above market, or below market.6% cap rate I believe the cap rate is much lower after standard underwriting is used.

@Michael Garrettyou can get a loan inside an IRA but there are tax considerations.

What's the status of the neighborhoods - is it in decline, stagnant or rising?

The seller told me that the tenant is behind on payments.Are there any special considerations when dealing with removing a rent to own tenant that is behind on payments?

As long as the person you are birddogging for is not a real estate licensee, it shouldn't be a problem.Under Texas real estate law, licensees are not allowed to pay consideration for referrals, defined as anything of value, to someone who is not a real estate licensee.