The flippers like Bruce Norris claim they’re getting the lender to sell them at 40% of the loan or less at a no-reserve auction. But remember, these guys are total pro’s. Notice that they dont want to keep the properties either. Even at positive cash flow as a rental. What does that tell you?

Simple.
It tells me that Bruce Norris has the ability to generate 20-40% profits on flips in a three-month holding period, and prefers that to long-term cash flow at effectively 10% annually.
Which would you choose for your business: 20% in three months or 10% annually ?