I could replace these but I think I would lose money if I did so.

This could easily eat up your entire $7,500 downpayment plus any monthly excess.

But maybe I'm losing business.

If it is deemed to be a sham or a shell, then you will be able to pierce it quite easily and if that is the case, then there is no reason to have an LLC, right?

Buying before the auction involves buying from the borrower/owner who is about to lose the property.

It is a foreclosure duplex 2600 sq ft assessed for 94kAsking 35k I will offer 25k plus 10k to fix upBefore the bank took it the property was renting 650 per unit with tenant paying for everythingThe agent told me that the previous rent was a little lower than market for a 3br apt.IncomeAnnual rent (based on 600 per unit) 14400ExpensesTaxes-3900Insurance-980Property management-1440Vacancy(5%)-720Maintenance- 1440Total-8480Net Profit- 5920 Loan at 8% with 3500 down= 231/per month, annual- 27725920-2772= Cash flow- 3148The agent said That after fixed I could get easily mid 60's and that is even 30% below assessed value so should I cash flow this or just flip or neither and wait for a better deal?

If you drop the ball the attorney stands a real chance of losing the client and future referrals from them.Think of it a different way.

The people who have made their own money are generally are those smart enough not to easily lose it.You are very likely to lose more than your $10,000 if you buy as you are suggesting.

With no mortgage payment, I could easily save up to pay cash for another piece of property.

Just DYOR before committing to something where you can not easily back out.