It has more to do with lifestyle than anything else and it's about as predictable as a good poker hand.

@Aaron Mazzrillo Well you would think as a poker player I would be able to pull the trigger and gamble on the list I choose to mail to.

It's almost trivial but its just like keeping your cards above the table in poker.  

Also, maybe I am $1,000 off and instead of making 40k on the flip I would be making 38k by going slightly higher than his best offer..I am still doing the deal at that price..its seems like being the last guy in is the best scenario but it would be in my best interest to know what cards he is holding (sorry for the poker reference)

I did enjoy going to all the casinos with all the great poker action.I also enjoy buying 35k properties that I can rent for $800. 

Although you want to play poker as well.. many people stop on round numbers I E I will only bid 200k and I am stopping you bid 200,500 and you get it.. 500 dollar does not make or break.the other thing you may consider if you want experience and you have capital is to simply partner with a home remodeler or builder.. this is what I do ..

Sometimes my smarter part of my brain only speaks to my gut , so I learned to listen to itLot of people sponsoring these deals start off like they great leaders there to take care of you but mark my word, it will will turn in to a fierce poker game.

As Buffet said about being the patsy in a poker game if you can't figure out who it is in some 30min... the trick is making sure you aren't the patsy in real estate either.Sorry if my tone is offensive, just not sure how else to get my point across. 

We traded properties like poker chips but the loans remained in both of our names, regardless of one of us loosing ownership. 

Might as well play poker - even there you might have more of a shot...