There was 150k paid by the insurance to the previous owner to cover the mortgage only and nothing more.

I see all the time on BP where a millennial with heavy student loan debt asks if they should pay off their loan or invest in real estate.

If you want to do this on your own.. then its a lot of leg work at the county or city and your going to take some pretty heavy duty risks.

This was my third auction and i felt really good about a few properties so i pulled the trigger and got one I was asking questions, some i knew or had an idea of the answer, to get some opinions from people on here who have been doing this stuff longer than i have as I have no mentor. other than those that do this for a living I think you have a good handle on this.. not that complicated and your UBER lucky to be bidding in that environment were the heavy lifting is done for you up front.. many jurisdictions are MUCH MUCH tougher and riskier.. 

I recently used on to take on a cover in a dishwasher which according to the instructions was factory sealed.

I bought it with an FHA loan and had the sell cover closing costs.

In fact, given solid credit and a decent loan size you can even tap up to 50% of the appraised value to cover closing costs.   

Listening to Brandon's Podcast here makes me think that i need to buy a property that is falling into a sinkhole and covered in black mold and then get my "Justice League" of contractors to fix it up before I can make a profit off of it (using the BRRR strategy).I desperately want to jump off the high dive into real estate investing but Im deterred because I dont want to buy a property with more cigarette smoke damage than a 1950s casino.

Listening to Brandon's Podcast here makes me think that i need to buy a property that is falling into a sinkhole and covered in black mold and then get my "Justice League" of contractors to fix it up before I can make a profit off of it (using the BRRR strategy).I desperately want to jump off the high dive into real estate investing but Im deterred because I dont want to buy a property with more cigarette smoke damage than a 1950s casino.

For example, would the best strategy be apply as many deductions as possible while still showing that I am earning enough to cover monthly mortgage payment on each property?