That is, buying properties at a low price, renovating it, finding a tenant to rent it, refinancing and repeating the process over again.

If you have an FHA mortgage, it's probably with a low DP and pretty good rate.

He also let me borrow the book "THE BOOK ON Investing in Real Estate with No and low money DOWN" which I am currently reading.  

Because I have been doing exclusively BRRRR properties I have little to no routine maintenance and cap-ex for the first few years  is very low because of the up front rehab. 

Absent some special circumstances (not likely considering there is a $0 or low mortgage balance), there is literally no incentive to sell pre-auction... the auction company has a guaranteed sale and the owner knows that participation will be great because the property WILL sell on auction day.As a bidder, hope for bad weather.

I use the Smartcore flooing that you can get at Lowe's.

Numbers are as follows: Price: 469,000 (offered 440,000)Taxes: 5500Units: 2 Unit 1: 1450Unit 2: 1850Revenue: 39,600Operating Expenses: 29,270Take Home: 10,320Cap Rate: 2.35% (seems low)ROI: 9% (seems good)

You didn't buy at a low enough price or spent too much on rehab.

One is anything under 5 units and you can still qualify for low rate FHA financing and only 3% down payment, just like if you were buying a single family home.

My initial thought is your fee is way to too low.