Do I really care about your English, not really, but someone your conducting business with might and it could hurt your effort to do business with them.Now back to your house deal, I see what your thinking and it is basically a good idea but, yes the famous but, I know there are better deals out there if this guy won't give terms or a better price.

Looks like it could be win win.

But he who makes the most offers wins.

It could be a win-win situation.

If not, this could be who knows how much.Also, do I need to pony up for a title search before I even see if I win the deed auction? 

Cash flowWhenever I speak to and help investors I tell them it's a 5 legged stool that true investors look at, not just one leg.And as always this is just my opinion and personal experience of winning and losing at this game.

@Robert Whitelaw   generally speaking I agree with the buy hold will win the day.. but its just cannot be a blanket statementthere was  a very big apartment owner here in PDX that rolled up all his units  and cashed in 20 million in equity.. went to vegas in 05 on a massive 1031... bought 100 million in multi there.vacancy rates as you know on fully leveraged multi  in excess of about 10 to 15% put huge strains on those and much more than that you have to feed them.vacancies in 08 in vegas hit 10 to 40%  he LOST THEM ALL.... had he just held pat on his vanilla PDX he would be fine and our stuff here has sky rocketed  must like a little brother to silicon valley real estate.. 

You really need to think beyond profit and make sure this is a win win for everyone. 

Effectively they foreclose on you and win.

Win some and you lose some..