@Caryn CasarezIf I've properly understood you, it seems the scenario is one in which the IRA was the equity partner on a buy and rehab project.

But deals do come up if you eyeball the market properly.

Their total mortgage balance (with one point on top) is $219,170, financed with a 6.26%, 30-year mortgage.

I would say to learn a trade that interests you to actually do and just learn enough about the other trades to be able to assess the proper way to fix problems and make sure you don't get screwed.

However, there's no sense in getting angry about what I think is right, at this point I just need to make sure that I am properly represented by ANOTHER professional that I am trusting to do a professional job.

Make sure you are screening properly and truly feel comfortable with the tenants.

If you are risk adverse a LLC really can only help you in the end vs hurt you though there are cost associated with setting it up and running it properly. 

If you are working through the proper channels at the city this, along with other utilities, should be part of the process. 

@Amanda Strickland Hi Amanda thanks for the questions you have to have 25 percent in cashiers checks at the auction then you have 24 hours to pay the balance. 

This would balance what your bringing to the table and help you gain experience.