Since you self-manage, you would be on the hook for liability issues, so anything you own is at risk - and you own the single member LLC so that becomes at risk. 

Also, while flipping can have a high reward, it also has a high risk. 

He has a team of people who research everything and they guarntee in writing that title is clear and there are no leins etc.I however wanted to ask all of you here what needs to be researched before buying a property at auction because I take what people tell me with a grain of salt, so I wanted to get input from more people.I understand buying property at auction has a greater risk because you can not inspect it and it is truely as-is, but people are doing it so I am trying to learn the steps needed to take before going to auction.

The penalties are the same as working unlicensed, so pretty severe......

I have done it both ways with same results.....It can cost significant dollars to get them set up and there is a yearly fee that varies by state but can be pricey, especially once you have several....

There are risks to be aware of such as a due on sale right held the underlying lender.

I understand there's quite a bit of risk involved in investing where you don't have the ability to be onsite.

I have several homes that fit that model.  

@Paul Sandhu pays an average of $9500 for his 3 bedroom homes so the risk is much less that most.

Also, the good thing about primary is that it only requires you to put as little as 3.5%-5% for properties up to 1-4 unit or 0% if you are a VA.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.