Information is Power – get as much as you can.Ask questions, what is the reserve (sometimes they will tell you, sometimes they won't, what is the balance of the mortgage, if you are the high bidder will you get the property free and clear of any liens – can you have immediately possession?

Many of the flippers I know do some work to a house after the new owner has taken possession of it.

  [ While this property is reported to be vacant, buyer is responsible for obtaining possession ]  I'm looking at the listing in Mancos.The Inspection report states the property as vacant.If you bid on this property, I would insert in the bid form online that you want a "Clear and Marketable Title for the Mobile Home and Land" I have never worked with Auction.Com but I have worked with Hubzu (Altisource) and I always include that clause. 

Then after that if you can not get an agreement on cash for keys, or you believe he is going to be out by the 60 days, then you will need to file an again for him unlawfully possessing the house at the 60 day mark.

I use a system that has been working for years now – thanks to creative formulas and owning a real estate auction company, oh and the support of my wife of 46 years.I may have some ideas that may help you increase your non-commission income.Yes - I have profited from negative equity many times - the technique is called - Contract of Sale with Right of Possession with a Delayed Settlement Subject to the Existing Mortgage, Assignment with Release.First you have to understand that there are potential buyers out there in your market who cannot get a loan due to their credit rating.

Then you can take possession of the property once all the redemption rules are met.  

Let's say 500K or more in their possession at one time. 

If the house is vacant try to get possession immediately so that you can show it to assignees or tenants. 

He had to go through a bit of a process and should have possession of his property within weeks.

As a new investor, you need to possess encyclopedic knowledge of your market and that means living and breathing it.