Mind you we could only do like 3k down so we'd need a loan to fund the repairs as well, but we have great credit and only own one home as of now.

But I don't believe those risk apply to me because I plan be an owner occupant, I have a pretty good credit score (720)  and a combine income with my spouse of 70K (no children yet). 

We have awesome credit and our DTI is beyond great. 

In most cases, the net tax is not significant, and you will still very much reap the benefits of applying leverage such as higher cash-on-cash return.If you are self-employed with some kind of side business, and that business has no employees, you would qualify for a Solo 401k plan.  

You should be provided with a HUD sheet that breaks down all the expenses / credits on it, before the closing, you will have to pay county and state tax, filing fees, transfer tax, etc. 

My credit has been hurt by some personal situations.

I wanted to look into getting some funding but i am not able to do so because of credit and other various things.

Maybe credit but I wouldn't rent to someone with bad credit.

If your intention right now is to network and meet people, you'll benefit more from going to as many MeetUps as you can instead of the auction.  

In this post I'm going to describe my experience in using smart move and try to call out where I see benefits and drawbacks to the service.