Ask them questions, who is the seller, what was the problem, how long was it on the market, how can you reach the sellers, let the agent know that you'll pay them a fee if they help you buy the property before the auction.....this will eliminate your competitionBe pro-active, do your research, don't just show up....you need history of the property before you bid, do this and you will succeed, do not do it and you will over-payVisit the property before the auction sale, try to find the owner, ask questions (sometimes you can stop the auction by making an offer to buy directly for the owner (always check the local laws about buying directly from owners in foreclosurs, you would be safe by using an agent, called arms length agreement, you pay the agent for this service.Talk to the neighbors, find out what's going on, the history of the property and the ownership, neighbor usually love to talk and will give you some great insightsIs the house vacant, for how long, can you get inside to do an inspectioncheck the public records, what liens are on the property, what violations, back taxes, water bills etcIf buying directly form the seller (using an agent), make sure you have a lien and title report to protect you from buying a property with other liens or judgementsOther ideas for you that may help you understand the auction business better:Contact auction companies (always talk to the principle of the company).Do some research of that company; what do they primarily sell, stuff (assignments), antiques, coins, real estate, foreclosures etc.attend their auction, get to know themAt my company we have auctioneer associates, their job is to run my leads and to create leads that we can sell at auctions.

I stuck with arm's reach but have thought about opening up the search to out state for a medium-term plan/aspiration. 

You will certainly get a more accurate comp from an agent as we have MLS data to work from. there are many things not on zillow or trulia that can skew a property if not properly adjusted, in terms of leaving appliances, the car in the garage, non-arms length transactions and many more. 

My pride showed its ugly head as I nodded in agreement like I knew what she was talking about.I like the stability of 15yr/30yr conventional financing and am not fond of the commercial arms.

My expense numbers are a little fluffed for added safety.  

As with any non arms-length transaction you need to be concerned that if something happens do you want a business partner as your lender. 

Hi Michelle, I come across off-market properties in Pinellas somewhat regularly -- especially in Clearwater, Dunedin, and Safety Harbor.

Once you have done a deal or two you will be much more proficient and can cut back a little on your safety padding.Hope this helps,Allen Fletcher

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookTo find a PM go to IREM.org search for ARM certified property managers.

On that note, does anyone know of a cheap, reliable CPA (either Chicago or Remote) that won't cost me an arm and a leg for a single unit?