@Kevin Fox I actually was thinking long term as far as the 10k equity, I simply failed to mention my goals.

Also, it's a big win on the equity if you're levered.

Win-Win

Sales comparison looks at competing retail sales, income evaluates the subject as an income producing property, and cost (simply put) focuses on the current cost to build/replace a property.

Or did the agency simply designate you an agent? 

With the Checkbook IRA LLC, the IRA itself is at the back end and simply owns an IRA for which you can have signing authority and operate out of a bank account of your choosing.Again, if the IRA will have equity in the flip, then the IRA is engaging in a trade or business activity as opposed to passive investments such as hard money lending or rental income.  

This post does not try solve your problems; it is simply advice for somebody who is about to buy without all repairs completed before closing.

Is it simply getting a real estate license and submitting an application or is it more involved?

If I end up winning the auction and paying the property tax will they have to cover the cost of the back taxes as well or just the price that the house was sold at for the auction? 

Verify that the title company will give you insurance if you win. 2.