Drove buy the property and saw they were auctioning the property off.

The best use of your time is to attend one of those courthouse steps auctions.

Does anybody know any Live House Auctions in Connecticut?

Purchased at a sheriffs auction for $640,000.

I bought my first property in 2005 (18 years old),  I've owned dozens of properties in Milwaukee (one in Madison for a short while) including one duplex I bought for $11,000 at an auction in 53206.   

When we were finishing my daughters house a bank-owned home became available in an auction.

Of course you can resell them, but there is obviously risk to the buyer.....the property can be redeemed at any time, depending on how long ago the deed was purchased,  prices, etc. and your purchase price is irrelevant.....their redemption price is based the sale price of the deed at the tax auction.

I have a cash offer in on one house and want to bid on another auction.

I'm looking at houses that will be up for auction or foreclosure, I think good deals could be made there.

Unfortunately deals here are not as good as in the Midwest for traditional financing, unless you go to auctions, etc.