Just a rough look at the numbers I would draw a hard line in the $145K range based on 1) unknowns of what you might come across, 2) what the city of Salem might require from you (permits, outstanding amounts, etc.), 3) the high monthly carrying costs and 4) not having a solid ARV.Looking at the auction rules, a few items to keep in mind:1) A 25% non-refundable down payment is required for all cash sales and land sale contracts and must be received within one hour of the end of the sale.

*Valuable lesson -  "it's easier and more cost friendly to build a new home vs. renovating an old dwelling with unknown problems that can pop up any minute

We offer a better more beneficial approach then what you describe as wholesalers, who tie up deals for sellers, add a large fee to the deal and pitch to unknown sources to find buyers they have never worked with before. 

So it makes sense when @Jay Hinrichs and @Brian Burke are building from the ground up, they are taking a accepted and informed risk for a relatively high return which seems a lot better pot odds then investing in the current crop of these low margin value-adds in which you are taking an unknown risk masquerading as low-risk for an acknowledged low return.

Have a structural engineer look at it, get a quote on repairs & include a contingency to price to cover the unknowns - consider meeting seller somewhere in the middle if you really want it. 

Then I started getting more and more to unknown names for unrelated addresses, so just dropped it.  

I can't turn my phone off as I need to be reachable for some work related emergencies that unfortunately may come from unknown numbers.

The same can be said when picking unknown equity as well. 

Tenants know this, so the threat of eviction is a heavy incentive to leave.One other thing is make sure your eviction calls out (Known Name) AND Unknown occupants.

Now, with the scheme NC sellers and/or realtors created, sellers are protected, even if they lie or misrepresent and they are most certainly protected (and paid) when unknown defects are discovered by a buyer inspection that warrants a buyer leaving the deal.