Nevertheless, we are doing our due diligence to make sure the property title can be insured after we buy it at auction and that the title can be quieted for resale. 

There are some extremely AWESOME people from the Shreveport/Bossier area on Bigger Pockets.

I do not want to invest in property here in NY because I know it is extremely expensive.

The inverse to that is that financing is extremely easy to find right now compared to a few years ago.

Stepping out of place as a lender can send you to prison in extreme operations but at the least you can lose your note, collateral and money (usually you'll have a fine as well). 

The building is quiet and all renters have been informed of this.

(The bank is not going to just sell it at a loss to the first person who talked to the seller - they want it exposed to the market to get maximum value out of the sale).That being said, both of the above options are a real pain to deal with, and the odds are extremely long that the bank will sell to you at a significant discount.Here in Florida (even after #2 is complete), the short sale addendum to our contract allows the bank up to 90 days to review an offer.So, what typically happens is:1.

I keep running into articles about people who live an extreme austere life styles and do not work full time.

. ** The masterminds : I have found that non-paid groups could be great, but the problem I have found is that people tend to be less committed and getting them to be discipline and to show up is extremely difficult. 

Wow, when I began reading this, I was thinking "I bet this is going to be an extremely successful airbnb story" lol!