Did anyone work with them or are they even legit?

If you like the home, area etc, you could refi and pull out the same amount of money.

Even though the lease does state that it's with the tenant and the owner.

Suggest you pester them with questions to learn the eviction process, so you can save money in the future.

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

Your best/safest bet would be a regular lease combined with an option to purchase.

Quote from @Chris Garnes: Sounds like you need the money for rehab? 

I would even call those agents and see if they know the finishes that were put into the property, if not ask if they can setup a call with that investor to see what they put in..

I bet if it were your grandmother or relative in that situation you would think differently.

Just like doubling down on a bet you could lose it all.