This is my first auction purchase, so any insights or advice from those familiar with this process would be appreciated.

They fund all their loans first before crowd funding.

Purchase price: $230,000 Cash invested: $70,000Put 20% down on my first property, I lived there for a year while adding two bedrooms, 1 bath, and finished the basement by myself.

This is all too common and you aren't the first person to be told this...

@Mesturah ShittuIt's fantastic to hear about your success in real estate so far, growing your portfolio to 10 units and $5.5M in such a short time.

Partner effectively, focus on securing your first deal, and build savings and credit.

I am curious about any potential barriers to look out for- timing, access/cost supplies, labor force?

It could be he is lodged and charged after which you can take possession based on abandonment/non-payment.It's always a good idea to use an attorney but if you spend the time, read the laws it's a pretty straight forward process to evict on the grounds you stated.  

As for taking a long time to get paid, that is Innago's policy.

It doesn't quite remind me of 2004-2008 since the borrowers need to have a history of paying their bills on time and provide evidence of the capacity to repay the debt, for investment properties lenders are requiring anywhere rom 10-25% down depending on the loan amount and documentation.