Stay clear of the sheriff's auction unless you are an experienced investorIn this case, the sheriff's auction was packed as I have never seen it and the bidding on my interest went way over my predetermined limit. 

Your expenses and depreciation are limited to your income on that property. 

It sounds like you are getting limited showings in a hot market.

The liability protection is the main reason to do them and in general I figure that even if you dont think you need it you are better to have it. 

Although I'm still within the 90 day limitation:1) Can I/should I still list the property now?

I also got approved for a couple high limit credit cards. 

If I do not refinance down the road to conventional financing, it will eventually allow me to purchase one more property in this manner before hitting the limit of 10 with conventional financing.I have never done a subject to deal before so I am not exactly sure how it will work on both ends. 

There is no inspection period for the most part or it is very limited.

One never knows the limits until one crosses them.

Equity will at some level reduce a properties cash flow to a negative number and turn that investment into a liability.