Specifically, what is reasonably fair on the draw schedule and hold back percentage per draw?

Don't threaten yet, but your HOA could be walking a fine line of violating Fair Housing rules and they DO NOT want to get that can of worms opened.

Hi everyone,As a fairly new investor in California looking to primarily focus on buy and hold Real Estate, I find myself looking at some potential good deals that are a bit out of my price range.  

@Greg Grant It 's fairly smile, if you're bidding on hubbub, or auction.com, etc. you are buying a REO and they typically come with clear title.  

To be fair, I think deflation would be temporary (it better be, or else invest in guns & ammo) and is a bit of a "black swan" event, but it is possible and I think more probable today than people are tending to give it credit for (my opinion and gut feel).

The other big risk with any investment right now in the AV is that the market is fairly high right now and historically this area gets absolutely hammered when a recession comes ... it always comes back, so if you are a long term investor it won't matter as much, but something to be aware of and carefully structure to ensure that you can hold through a downturn to make it to the long term.

I offered to speak with the couple (who we know fairly well) but he said that would give him away for sure.

It's taken 5 or 6 years to just regain a "fair" credit rating.

I tend to be in both cities fairly frequently. 

Hi Bobby- just keep in mind that Hubzu is zero- inspection.Once you win the bid you will have to send a non-refundable deposit.Also, Hubzu normally keeps the reserve price fairly close to the listing price on MLS (maybe around 90% of MLS price).I recommend finding the number you are definitely comfortable with and then setting the auto-bid feature so you don't have to sit there bidding back and forth with other investors.