Thinking of buying a condo near the Medical Center area in San Antonio.

It is my understanding banks are trying to reduce their REOs.

I am in Reston, I need help making sure that I take everything possible to reduce the risks, in REI.

This doesn't really appear to be that great of a property from what you are saying.Office type properties that are not medical office trade at very high cap rates now like 9 or 10 or higher.

I also decided awhile ago to be my own GC not only to reduce costs but to make sure that everything is going the way it should be and on schedule.  

Typically, if you purchase a foreclosure auction property and contact the entity holding the lien and explain the situation they may reduce or strike off the foreclosure-lien held against the property.

To me, it currently looks like a dog that can't hunt - an apparently vacant building that was a medical centre.

This is where you have to factor in your ROI for the project and will the potential long term effects, hopefully positive, from the flip out weigh the potential long term effects of a reduced position in your investments?

If I assume my property management company has another renter lined up I may be able to reduce vacancy costs... but other than that, it doesn't seem like there's much wiggle room.Is this a bad idea?

Medical bills are excluded.