Auction for new investor
I am a new investor interested in purchasing at an auction. I will have all cash to buy the property and am planning to buy,rent, and hold the property so that it can appreciate. I plan to run comparables, drive by the property during the day and during the night, research the neighborhood, and have a title company provide my a title report to determine if there are any liens on property or 2nd mortgages. If the title report looks clean with only one mortgage, should I still be concerned about liens or mortgages not showing up on the title report? Although I would like to get a good deal at an auction, I don't want to do something foolish. I know there are also risks of squatters, tenants not leaving property, and costly repairs. I guess my question is, do you think that the potential savings offered by foreclosure auctions are worth the risks for someone like me who is a new investor (but one willing to put in the time and effort to thoroughly research)?