I'm new to the investing world and am looking to utilize some home equity to make a purchase by end of year.

Or is it common knowledge?

While not as common, these deals are possible in unique situations, especially with motivated sellers.In this high-interest, low-inventory market, it's all about getting creative while managing your risk and time commitment.

Can I deduct any expenses incurred throughout the entire year 2023 for that property such as utilities, insurance, repairs, mileage, maintenance and improvements?

I've heard from several people who thought they had an owner finance agreement signed at the kitchen table, assumed they were paying down equity only to have the house sold right out from under them.Ben,  How common is this that a seller is willing to give up their deed upfront in exchange for seller financing.  

Interestingly enough, its a lesson quite commonly adopted by real-estate investors themselves.

Attic insulation is one of those things that I am not sure how much practical effect there is, I only add attic insulation whenever the government subsidizes the cost, and after it's done I don't see any cost saving in my utilities bills (student rentals). 

Heck it’s common practice to make someone aware of an impending obligation.

A missed sewer line can be a 20-30k repair alone, but more commonly you are going to be over budget $500 here, $1,000 there, and when you add it all up, it becomes $20k very quickly.

IRS liens, municipal liens, utility liens also transfer to the high bidder.I'd contact the owner and see if a pre-auction deal can be struck, which would eliminate the auction competition.