On the surface, it can be a win for both. 

Since I’m using conventional financing I was worried about a foreclosure auction since it might not allow enough time for the title & appraisal needed by the bank,and I would be competing with all cash buyers who would win against me.

As a matter of fact, an overpriced asset is simply an asset offered for sale at a price calculated using a cap rate that is lower than the prevailing market cap rate (i.e. whether in a low or high cap rate market).

So, I was also told not to purchase a property using my LLC as my wife and I have enough financial history to qualify for a conventional loan or a refinance and the LLC won't (I assume this mostly applies to buy and holds and refinancing as with flipping we will not be looking to refinance or go conventional).Most of the advice I have gotten about how to have our LLC taxed is to simply have it taxed as an LLC and file our taxes together.

A few of my colleagues are in 3 cap, 4 cap properties that have break even flow... and they call it a win!!

I also have a good title company in Atlanta that i've worked with before thats pretty good.I am trying to seek more information on the do's and dont's of auction.com, hubzu, and just simply purchasing at an auction. 

In one case the winning offer had a $15k escalation over next-best with cap set at $150k over asking (on a ~$900k listing).

And many othersOwner Financing (OF) could be a great win-win scenario for both the seller and buyer if their ideas align.

I would simply explain that your property is priced competitively and you won't be reducing rent. 

Simply not true.