I hear it is much like Poker, as I know nothing about Poker the real players I hear are not looking at each hand they win or loose on, but what did they accomplish during the whole season or year.

He desperately wants a buyer to bid and hopefully win the auction so that they can set up a creative financing deal to return the home to him as it has sentimental value to him and his family.

However, I agree with you that real estate will be fine from a longer term prospective as I believe that Inflation will eventually win over the short term deflation.I also agree with your investment philosophy to buy the best asset class you can afford and appreciation is where true wealth is built.

You can have all the contracts in the world, but if they other guy has more money, they'll bleed you dry in court so you might win a small battle, but you'll lose the war. 

Hitting consistent singles and doubles is going to win you the game.

I know I'm missing something here and I must be very naïve.. but it just seems like too much of a win situation.

This homeowner has a problem, and I want to solve it with a Win-Win solution.Anyone else worked a similar deal?

If someone famous said this then credit them, if not dibs. 

Have done renos with my brother in our own house so have some experience.First question: after winning an auction, do I own the property and can I start demo right away?

If you're looking to flip or wholesale, you're more likely to win the lottery than to find a deal on the MLS.