I also think it would be pretty nerve-racking to take that money with that guaranteed return and gamble it on the uncertain.

The first issue I ran into was that I arbitrarily picked a rental amount that seemed fair to me without actually doing market research.

I am two semesters away from that fairly expensive piece of paper that is supposed to open many doors in life.

If I buy the property at fair market value and put between $1-3k into it for things like a new appliance, new carpet, fans, etc., this is not going to make the value skyrocket right away.

I'm fairly sure that people have, but I'm not certain since I haven't bought one myself or sold one for that matter.  

So I found a good deal, the numbers work but who is to say even if the property is listed at fair market value I will have any tenants interested?  

Example:I believe House A would sell at a fair price for $100k if rehabbed, $110 in some dream condition, and $90k if the seller wanted to be rid of it immediately.

This is sale versus fair rental condition... 

I have a few questions to anyone that has bought a house at auction before in Jefferson county.I am looking at a house that is coming up to auction fairly soon, I live fairly close to this house so i know what kind of condition it is in.

From my experience in NLR that sounds like a fair price.