They are just regurgitating marketing 101 trying to sell the holy grail. 

So many newer investors are obsessed with underwriting models as though the most intricate and complex model will deliver the holy grail. 

What in the holy hell is a novation? 

LOL  I would never take insurance from off shore holy cow..

These marketers would have the novice investor believe that the narrow focused “education” they provide combined with the “holy grail” formula (wholesaling, subject to, flipping, lease option, discounted note purchase, etc.) is most, if not all, anyone needs to become “independent” and successful, usually by month 12.

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

But, it is not some holy grail of great deals that will overflow your pipeline of possible purchases.So, if you are needing a deeper pipeline of deal flow, yes, auctions can be another place to look for deals.  

Like a tornado with a firebomb.....Holy Smokes!

Holy hell.

Holy cow, don't you have a contract that specifies when and how much draws are to be submitted and paid?