Keep in mind that the auction process is just part of the legal requirements for the lender's collection activity of last resort - and that the auction process is somewhat designed so that the lender can "solve" some of the issues by following proper procedures (for example, IRS liens can be left with just a redemption period if proper notice is given to the USA that a foreclosure will happen and extinguish the IRS lien).

Like other posters pointed out, after closing day, they become your tenants...so you'll need a lease and a security deposit you're comfortable with.

The only way I would sell would be if you were comfortable investing out of state.

When you gain a comfort level you may offer someone a loan secured by their investment.

The more comfortable you are the more you will learn.Best Regards, Rico 

How many repaid offerings would be enough for you to be comfortable?

I have been working for major companies for my career so far doing engineering design, equipment and property maintenance, assessments, repairs, contract management, construction management and much more.

I feel pretty comfortable now in assessing deals, my angst mainly comes from making sure I have the right contractors in place and a "system" to steer tenants in the right direction while keeping good PR with them.

I'm sure that's by design considering the cost of this guy's upcoming seminar. 

Hi Mark,I used your spreadsheet design to do a quick analysis of a property in my area.