And in 2022 people were bidding over asking for just about everything...

YOU drive every single property before you bid. 

The MLS is good, but that's where 99% of the buyers shop so competition will be fierce and a bidding war will kill your cashflow.

If so they GROSSLY underpriced that to get a bidding war. 

Teaming up with Mexican retail giant El Puerto de Liverpool, the family has made a $3.8 billion bid at $23 per share.Nordstrom, like many department stores, is struggling with changing retail trends, including competition from discount chains and the rise of online shopping.

We would handle the structure and property design, planning, permits, bids, sub-division (if needed) for the project.

At least with this option you might get to do a little better due diligence and inspections or get bids if you can get inside vs most tax lien/deed you don't get to see inside the property before you buy.   

I also am not sure what the owner owes that would be the opening bid.

If you have the go-ahead from the county, I would get at least 3 bids from contractors to see if installing a shower is possible, making entrances easier, and generally improving the basement to be more complete overall.

Regarding auctions, if you don't win the bid do you get all your money back?