Also, it's a big win on the equity if you're levered.

Win-Win

I'm pretty visual, I would read the chapters and write all the key words on flash cards to study later.

Unless you're playing the "sometimes it's better to ask for forgiveness later than for permission first" card.  

I lose my house last year because of a situation that was out of my control (long story involving an over spending relative and a friend that we housed for 3.5 years for free who ended up opening multiple credit cards under my name and completely destroying my credit ).

I will be meeting with a lawyer tomorrow to discuss LLC's, tax benefits, and how to make the CPA's life a little easier with the bank accounts and credit cards.  

If I end up winning the auction and paying the property tax will they have to cover the cost of the back taxes as well or just the price that the house was sold at for the auction? 

Verify that the title company will give you insurance if you win. 2.

It could cashflow if I added a bedroom in the basement.I'm a fairly conservative investor: a minimum of 20% COC, 2% rule, with a good buy and/or multiple exit strategies.I actually discovered BiggerPockets because I ran into issues purchasing my first two condos - I could not get the bank to finance the second condo because there was too many rentals within he complex. 1) Condo (1/1) - purchased w/ 5% down as an owner occupied property (one of my best properties)2) Condo (2/2) - got denied so I got creative and used the checks that credit cards sent you (25k) from three different cards, begged friends, and had about 15k in my bank.

It's a win-win situation for both of us.