Is this an intended BRRRR deal or just a value-add? 

This goes the same for calculating rents in the area, I what to know the real data.. i.e. from the MLS, or insurance from the broker/insurance agent to make the right decision.

This is calculated with a property manager.

Out of the four properties , there is one solid tenant, the other is struggling and the last two  properties are not renting.

Attend in person, bid, if you win you have to pay right then via a cashiers check.

The only thing the bank required is that I had a checking account with direct deposit setup into their account. 

Also, what should a new investor be aware of when diving into this market?

@Jerryian Francois if you are still looking for a 203k lender try checking with @Jose Valdovinos!

If the bank will call their note if you commit to the transfer you can also check out this article as one strategy that has been used to work around the issue.This is not legal advice, just my opinion as a real estate investor.

Just check the facts and figures.Like you suggested, there are various opinions, which are all valuable and it's great like that.