It also covers all my internet, phone, fax, copy, E&O insurance and misc costs.

Quite often the bank will bid up the price to whatever is owed to them on the loan and if there is a second lien then that lender might also bid the property up to cover their losses.Most likely you can just call the county courthouse and they will tell you all about the auction rules... after all, they WANT to sell those properties for as much as they can and that means they need buyers like you.

If you are purchasing the property low enough, you should be able to get into the loan with it covering the payments, cost, fix up money, and purchase funds.

It's a very small amount,so we have to screen very closely in terms of ensuring eligibility.

Maybe it's old news now, but the site can't pre-screen what Google puts up.

Not sure what to expect but they did not cover all that was supposed to be covered.

Hello Chad,It seems that you are covering many areas of the forum.

There are many threads that cover questions you're sure to ask.

4) If you got a loan to bring the taxes current and do the repairs, could you rent it high enough (and consistently enough) to cover the mortgage and other expenses?

Hello Trevor and Peachstate.. you are correct, Conventional lenders will not do assignments, Your end- buyers need to have a hard money lender to do these deals. most of them will allow the assignments.. you also need a title company that is familiar with these type of deals.. you need to be screening your buyer(investors) if they do not intend on closing with cash(Hard money) its not worth it!