If we did an assignment we would need to disclose everything at the same closing table.

While you may have the property in escrow, I'm sure, per what you said, many other offers will be on the table.

So if for example, final bid is $10 million, then you have the first chance to buy it at $10 million.

But, it is very situation specific.On one of our REO purchases a while back, at the closing table we were informed by the listing agent that we were actually outbid to the tune of $4,000, but because we submitted an all-cash offer (and the other, higher offer had a financing contingency), the bank went with our offer - the bank was very motivated to close the transaction.Good luck!

I was swimming in daily multiple e-mails until I kind of finally was able to unsubscribe.  

Finally, the application fee is a fee with multiple components:Paying the tenant screening service for their time, data, platform etcYour time to process the applicationAny compliance time associated with the application [for example the FCRA letter]Paying for the shredding service to come in and shred applicationsand it goes on..Why should that be refundable?

We are just about to finalize a new location, as the Fairfax location was really bad when it came to parking.

Finally, I would simply like feedback to see if I am getting into something I should not or should I go for it.

@Guy Gimenez and @Erik Stark are absolutely right - it really comes down to what you bring to the table.

But I finally found a community of folks from all states, all ages, all religions, all sexes (all 5)...Who share the same passion!