In the REI world, that means cut your losses, take your assumed appreciation now (before the mounting losses take that away), and move into an investment that makes money from the start.You're right, I don't think much of rationalizing how tax deductions (if it was a tax credit I would have greater appreciation for it), and a paid down principal (added equity that you can't use until you sell...so it's basically a trophy).  

Basically a chance to earn while you learn. 

So if you're going to do something too close to the auction, you'd have to cure the delinquency and get the property under contract at the same time, which basically amounts to a huge earnest money payment and is not something I would be interested in very often.

He basically admitted to owning all these homes under anonymous LLC's and talked about being down in the hood every day keeping up on things.  

The basic reality that I don't think you've thought through is this: You are there to represent people, which means you are on their time-line, not yours.

Hello everyone,      Im just starting to get my feet wet with analyzing MFP's and was wondering if there are any sources of sample scenarios, or transactions, that can be used to get the basic understanding of how to read the numbers and what works and what doesn't work. 

-If we complete the house to basic standards (not replace windows,paint original kitchen cabinets,not put on siding),this will probably bring us up to a total invested amount of about 80k,and at this point I think we could easily sell the house for about 150k,maybe 160k if we are lucky.

If you put 1/100 as much effort into this "business" as you did Engineering you might not have these basic questions.I think you are lucky so far and I agree with @Victoria Avery (by the way Vic, how do you know so much about restraining orders;-)

Basically, I'm here to learn and network. 

Same basic thoughts.