If the bank decides to put it on the market then you'll have to compete with other potential buyers.Also keep in mind that an investor may already be aware of this problem property (from the bank's perspective) and might be working on making an offer to the bank as well.

@Charlie Fitzgerald and @Kerry Baird, thank you both for making me aware of base housing approval, I was not aware of those routes. 

More often than not, people living in certain communities have friends interested in moving there as well; so make sure they are aware this is the chance for them to "pick their neighbors."

Have you made sure the seller is aware of this? 

I wasnt aware all members could start a blog in there.

Either way I'm sure it happens all the time but landlords are not aware. 

(he will have it early next week) I made a real big deal about this, and seller is aware price will need to go down, and no residential buyer will touch the house.Home also has an in ground pool, that needs a new pool liner, It also has a light that has fallen out of the side, leaving an open hole in the side of the pool.Assuming I can for an amount that makes sense (I am guessing around 80k after discounting the price to cover the structural issues), Can I expect a Hard money lender to loan on this property?

Duplex - C Neighborhood 40k - Purchase Price - 25% Down ~10k4k - Closing6k - Roof Repair1.7k - Misc Upfront repairsMonthly Expenses/IncomeUnit #1 -  $450 - Currently rentedUnit #2 - $450 - Vacant157.40 - Mortgage129.17 - Taxes90 - PM60.42 - Insurance, although this might change66.67 - Water90 - 10% - Maintenance and Capex90 - 10% Vacancy45 - Lawn Care/Snow Removal Net Income - 171.35The initial inspection showed a few issues, biggest ticket item being the roof which I was already aware of so I decided to proceed.

Folks need to be aware of the difference.

hi fellows , i am interested in buying property in new york kings county court auction, i have never done it before. what things should i be aware?