In order for it to be a good buy you want total rent for both to cover the mortgage PLUS vacancy (8%), CapX (10%), repairs (5%), and management fees (10%) (all percentages are just general, you can tweak as needed). 

I generally use 5% of rent to cover this. 

but to be frank i never used it since we get date downs on the phone and TRIOS e mailed to us while we are on the phone.. a TRIO in our market is the picture of the assessors page.. lots of info.. copy of last recorded deed  how they took title.. and a plat map.. this was key to us.. since all i needed was the last recorded deed and I could do my own warrnety deeds in house.. the deed had the legals.. and current vesting.. so you just did a deed from current owner to my company takes less than 5 minutes to prep.. get them to a notary and walk it into the recorders office.. thats how we did most of our deals as there was never time to get title insurance.. now to be fair one off investors may have trouble taking title this way when they go to resell.. but we have our relationships so they were good insuring our purchases.. but do be careful trying this yourself.. especially hand written deeds.. 

I'm looking at a property on xome.com, but every time it goes up for auction (4 times so far) the default picture is of the much more expensive house across the street.

You want it for at least 20% below market, which is $132,800.You go through with a contractor and he estimates $20,000 in repairs so you pad it a little and say $25,000 to cover some undiscovered issues.You offer the owner $107,800 and tell them this is your bottom line to ensure you can make the necessary repairs and turn a "reasonable profit."

Another good source of funds is to have the world’s largest remodel cover the cost for you.

I don't know the condition of the rest of the property or have pictures but those are two easy ones that stick out.

Yes those things can help you get a better idea, but they are only part of the picture.

Based on what I'm seeing number wise I'm thinking of just letting the company handle the sale (all closing costs covered by them, going to negotiate buying costs as well) and moving on.

Like the LLC I am covered for everything and unlike the LLC the umbrella give you real protection and an attorney to fight for you.