Obviously, the rules will differ from state to state.The most successful buyers have trusted bidders with cashier’s checks in multiple denominations (for cash sales) and the actual buyers have field runners and people to monitor multiple prospective properties at a given time and check sales status for postponements due to BK, etc.This is the case in larger metro markets where many properties could go to sale but few do so.There are often better ways to acquire properties then auctions.

To summarize the position I'm taking in this thread (and the impression I have gotten from Tyler's series of posts and also from your original post and response to mine), though the first purchase acquired from Morris Invest may have been imperfect, those experiences are areas for improvement rather than reasons to flush future opportunities down the drain.

I’ve been doing it for the last 6-7 years and acquired a handful of properties this way. 

Market > Mail > Lead > Analyze > Offer > Acquire > Sell > Rince/Repeat.6.

They filled out the application through apartments.com (used to be Cozy.co before it was acquired) where my screening criteria is posted and the application is hosted, and their annual income listed in the application is 1.25x rent.

By "business account," I’m referring to setting up an LLC as well as a business bank account.My goal is to expand my real estate portfolio by acquiring approximately two properties per year.

I think the information is widely available and in now days, cheap to acquire; one just need to be patient enough to learn it! 

Nice job acquiring the first deal.

Proceeds could be reinvested in better-performing assets across multiple doors.Our goal is to build appreciation over cash flow, acquiring 1-4 doors/year to allow my wife to retire by 50.

The down payment to acquire this sub to is $25,000. so you give them $25k, you take over a $70k mortgage and they are going to pay $165k in a few years - if you will not do this deal send it to me I will do it.