I don't know if these third parties pay auction.com a fee to publicize them, or they just do it to drive extra traffic to their website, even though they aren't involved in the auction process.4) Some servicers such as Nationstar will require some short sale properties to be placed on auction.com after they receive a contract, for "price verification" purposes.  

I know I get my drive from her.

YOu would have to drive for 3 days in the city to find one house boarded up.. and the only reason you would see that is its being totally renovated to sell for 500 to 1 mil... granted there are hoarder houses no doubt..

I have been driving by parks that easily are twice that price and alot of them are in pretty dicey areas, i.e. no jobs, drugs, cars on blocks etc etc.

@Karl JohnsonTake a deep breath!

I have listings sent to me by Realtors...wholesalers...bird dogs...plus attend tax sales and foreclosure sales and do driving for dollars...deals are few and far between...I called on one yesterday and it already had 5 showings and was under contract in 12 hours...I would buy all day long if the deal makes sense but most are way over priced and can not make money on them as rentals and I don't think appreciation can go up much more...so I really want this one...I talked to him about partnering but he wants to do it on his own so he can make all the money ...

To be an agent that drives buyers around and/or lists houses for sale?    

Good post, I agree with you, i do believe a correction is coming, but with investors now having to put more skin in the game and not being able to drive up prices like they did years ago with no money down products and loose lending requirements, i dont think it will happen this year maybe 2 or 3 years down the road and that also depends on what region you are talking about, we didnt really feel the crash out here and we didnt experience the double digit appreciation either , i wasnt thinking of selling when i refinanced, a few months after i did it, my tenant moved out so that got me to thinking about changing my goals, i was in a 6.15 30year loan still paying pmi, so the fixed 15yr @ 4.375 was a better deal for me, and yes counting on appreciation is not good because its not guaranteed, i may end up keeping it because I like the idea of having it paid for in 15 years.  

If things go well, we will look into purchasing a rental for the LLC every couple of flips to generate more income for the business.This is my question: Should we put pause on the LLC/business side of things and just do the marketing and see how things go with the first deal or 2 before we jump in too deep?

A drive through the city will show you just how much of an effect it's had on the area.