In this section we will discuss how to better understand the asset lifecycle that auction.com utilizes to run their properties through auctions.

I didn't attend the first summit two years ago, so I don't know what it was like - but if it was anything like this one, then I can understand why so many people were raving about it and gave it such great reviews.

Like any contract you simply need to understand and come to agreement on the terms. 

I want to get my license to learn about the industry and understand what is going on when my partner and I talk to realtors (currently I am a nanny with a master's in counseling psychology wanting to get into real estate investing....it's a bit of an odd switch). 

Hi @Kevin Diep -- Welcome to BiggerPockets.I too am from Southern California, so I completely understand what you are saying.

Get with a Contractor and a Real Estate agent that you can trust. get the contractor to bid on the rehab in order for you to understand what it takes for that property to come up to actual value, get comps from the real estate agent to understand what the property is worth, make an offer based on those numbers and move the property to an investor.

I don't want to cause any family feuding that may lead to the use of authorities; I understand that may be necessary here.Thanks for reading! 

Pay special attention to the timelines and the expiration date of your inspection contingency, and make sure you get your inspections done asap/early so you have time to review and decide.Secondary to that, make sure you understand the finance and appraisal contingencies and timelines built into your contract.Your realtor should be able to walk you through every step of the process.Good luck!

I personally wouldn't do it so I didn't understand if it would actually sell.  

@Mike Hannemane,  from my understanding, when acting as your own agent you can keep the commission, or have it credited toward the purchase price.