Explain all this to the tenant, share with them the lease you plan on having them sign, and plan to meet somewhere after closing so they can sign your lease.Note this is not legal advice.

I called Auction and they have said send an email to legal@auction dot com and I haven't heard anything.

I  asked him how this is legal and they stated the practice is "wholesaling". 

Check the city website https://beta.phila.gov/search for the property, and look up the license and permit.

Signing new leases with current pictures of the property immediately after closing is best if it can be legally done. 

Yes, there could be a limitations issue but some jurisdictions permit a significantly longer period to sue on an account.

Is this legal?!

I don't use them because I don't legally have to use and escrow account, but I came across it shopping for a new account.

I currently own a business as a general contractor and recently was asked by a property owner I have worked with several times the past few years if I would manage his property, my question is this; what are the legal requirements for me to do so in the state of KY and will I need a real estate license?

I am not a lawyer and not giving legal advice but you have to seriously consider the cost of an LLC/EIN number for every property.