Wow....after months of standing on the sidelines and watching I went to a local foreclosure sale at the county building to see what it was all about. Turns out a three bed/two bath house that was a Rural Development property was being auctioned off with a starting bid of 9100 dollars.I had researched the property and came up with a value of 48-55000 dollars. I didn't think my max of 20k would have a chance but when the smoke cleared I was the only one standing at 18k. I had only been able to look in the windows so I was worried about the interior condition. Turns out the people that had moved out left everything in mint condition. Got the insurance, heat and electric going this morning and a yard sign out this afternoon. Craigs list ad just got a response and the home qualifies for a no money down RD loan so the under 100k buyer (seems like that is the only buyer out there here in Northern Michigan) can probably get into the house and own for less than what they are paying rent (with nothing down). Hopefully I haven't missed anything but there should be at least a 25k upside.