It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc. 

I would go as-is as well!

If you can find an investment that pays for itself, you won't be so nervous about investing.I also recommend you educate yourself on how to manage well.

Ended both projects well in the green. 

It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

IF it was not on an auction site none of the information would be known unless you do your own research. they could say its a 3bed 2 bath home and you go buy and its burned down (seen that before). 100% is on the person bidding at auction.

You will also quickly learn how to manage properties well instead of spending decades figuring it out like most investors.

I have 3 windows as well that don't stay in the open position that I have to replace.

Mostly leftovers, we didn't buy them, but they rent well.

As well as limit you potential top end profit.