actuallllly, sheriff auctions are really a great way to get a good deal if you can sneak a peak into the house before it sells. The house i lost sold for 93,000 that the bank bought. they did nothing to the house and sold it for 120,000. The house originally sold for 230,000. Im pretty sure that is a good deal. Maybe a house down in Columbus would be a shitty investment, but MI houses and other houses with transferable warranties i cant see anything bad about that.
Maybe mold, or other things but like i said sneak inside first.