Typically you will need cash, credit history, and verifiable income to obtain investment properties. 

@Kevin Schultz In my area you need cash to purchase from the auction, typically a percentage is paid upfront with the balance being due shortly after.  

Typically that can be a little work to get rid of but manageable, with renovation, cleaning, and extermination.

A leaking faucet is typically just a faucet that has come to the end of its life. 

I typically always present it in a way that is very respectful and complimentary.

You should also be factoring in maintenance, capital expenditures, vacancy, applicable utilities, and typically property management.

Can I do 10% for a year or two and then refinance into a more typical 25% down 25 year loan that I read about?

Auctions typically say "cash only" but what they really mean is "no conventional mortgages" (you would not be able to get a conventional mortgage on a flip house anyway).

Typical service call is 60Bucks for me.

In my smaller commercial deals yes I did get the tax return schedule E (bank typically request it too), but on larger deals Sellers declined to provide it and broker said that's fairly common.