Investors can simply pay the bank judgement, and cut a deal for the owner to walk with some money - now that they're going to lose the house and equity at auction, in addition to getting foreclosed.So again - this does not explain - why has this house landed in Auction - when the judgement amount is way less than the market price.

My concern was twofold: First, you lose the ability to do the final walk through, because you have 60 days of not knowing what they're doing to your place.

And couldn't you take out the equity in your house and make that investment anyway without losing the asset?

The biggest is that if you do not make the payments on the HELOC you will lose your home to foreclosure.

We lose lots of deals to the hedge fund companies.

I'm a full time county employee, but want to venture out into real estate.  

The problem I have is that any variation of the word 'invest' makes my wife think that a coin flip will lose us our entire life savings.

From your spreadsheet it looks like you're losing money every month.  

I'm going to continue using BP for knowledge, going to check out the local REIA, and simply work on gathering as much information as possible for my venture into real estate investing. :)@Sean Holmer I'm leaving my options open to all of Virginia at the moment.

You might want to do the learning before you do the losing and BiggerPockets.com/starthere is a great jumping off point.