This can be a very good move if you have plenty of equity tied up in your house. 

If you're new to this, have them explain the whole process of how they would get each job done.

Purchase price: $375,000 Cash invested: $60,000 Sale price: $525,000 This home was build in the 1980's.

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

However, this distinction has completely blurred over time.

If you ever plan to do any STR you’ll need a property with a casita or located in North Las Vegas or Henderson to avoid the Las Vegas rule requiring  occupying a primwry home while renting it out STR. 

You can live in the suite and rent out the rest of the home. 

Sams and Home Depot has some you could checkout.

This one came from Massachusetts, a state where the eviction laws are not in the landlord's favor.

I am located in NJ but open to out of state purchases.