Both have a period of 3 years running concurrently.  10k option money, not counted as a down payment and no portion of the rent is held back as a down.  

Have not seen it in person.4 Bed/ 2 Bath - Single Family 2 story HomeBank Asking: $90,000ARV: I came up with an ARV of $222,000, but I put it as $180,000 in the Calculator, I am being very conservative.70% Rule: $180,000x0.7 = $126,000Repairs: $40,000Purchase Price: $86,000Holding Cost Per Month: $735.33Closing Cost: $3,000Total Days Held: 120 DaysTotal Projected Pre-Tax Profit = $36,000.55ROI = 56.83%Total Cost of Project = $129,000Total Monthly Expenses = $735.33 (Includes Mortgage Payment)Down Payment = 20% = $17,000 @ a 3.8 Interest Rate for 30 yrs.This is what I have, not sure if you need anything else.

The other type of auction these types of properties could be purchased at would be the actual foreclosure auction held at the county courthouse.

Yes, someone may held harmless from past operations, that doesn't mean you still aren't responsible.

You must also understand Agents are held to an impossible standard by the board of realtors and are open to huge liability issues for even giving a "leading" opinion.

local REIA meetings and when there held?

I have gotten an attached days before the sale and that held it up.

I was thinking that 10k held in escrow until the construction project is completed whereupon it would be released to me. 

We (my husband and I) held on to those properties way too long. 

Choose whichever one suits you.The problem is that you can be sued for anything and held liable for anything.