I’m looking at a foreclosure auction on servicelinkauction.com and wanted to know if anyone had experience dealing with this company?

From personal experience, MLS deals are much less lucrative given their higher price points (typically).With respect to financing, you can talk to any of the hard money lenders on this site for different financing programs they offer (some are tighter with someone who has not yet executed a flip), you can take equity out on existing properties you have, you can use private loan from a friend or relative.

However, these "cheap" houses are where the majority of the bad experiences come from because usually for a house to be worth that cheap it is in horrible condition or it's in a location where many tenants do not pay rent. 

Has anyone had a similar experience?

It has been my experience, however, that the underwriters tend to low-ball that 75% figure.

However, in my years as an attorney I have learned from personal experience that lawsuits like these typically becomes throwing good money after bad when one seeks civil remedies against people who commit fraud.

Ive read books and listened to podcast but cant seem to find the strength to take that first step.If anyone has been in a similar situation, I'd appreciate hearing about your experiences and how you overcame the fear and uncertainty to take that first leap into real estate.

How would you approach this type of project if you have the ability to purchase but limited experience on actual development?

Often, over the past 5 years in particular, tech has become the experience.

I have 16 years of experience in the TK world and can help direct you on which markets to consider.