The auction will just be like a regular auction.

And since you're renting out part of the regular living space you probably haven't dedicated that portion as investment on your tax return. 

.* Create a spreadsheet that is regularly updated with Home Depot Pricing, then when you look at the house, you can plug in quantity of things you need, to estimate repair costs.

Do we get a HELOC on our current home, and then use that as the 25% down payments and then use regular mortgages loans for investments properties, so we can get multiple properties over the years?  

These assets qualify for 100% bonus depreciation as well as regular depreciation and section 179 expense rules.

You'll want to find someone who works with investors and understands the kind of pricing an investor needs vs a regular homeowner who'll pay 50k to redo a kitchen.Also, try joining local real estate Facebook groups and ask for references there as well.

In CA, you can't charge more than 10% without using a broker to arrange the financing.In my opinion, people should use seller financing in cases where the property is not easily financed to regular buyer or they really want to hold the note for cash flow.

Long lease terms always protect the tenant more than the landlord.Do regular inspections and evaluate come lease renewal.

And while it sounds good at first (total rent, total cash flow) - you can literally buy a duplex that will produce the same rent with just two units.

The good is it was producing roughly a 10% return a year with mailbox money.