I'd recommend initiating a discussion with them once you're ready.

They will still have you write up an initial contract as with any other property and they must submit that, but then they are the contact who must be online to keep bidding or set the max bid.

We were initially thinking 4-5 bedroom because it sounded like (from threads around here) that's where the sweet spot was on best returns, and also because that would be the sweet spot for us using the place with family once a year.But yes, given it's our first investment property and it's out of state and we'll likely end up buying without even having a chance to visit the area first we're now thinking it might be better to start with something in the 2-3 bedroom range and ease into a larger property in the future once we've gained some experience.I am confused by the last statement though about better returns in other areas of REI. 

I learned very quickly that this was not the right fit for me.The second mistake that I initially made was, I didn’t ask enough questions about training..

My initial gut feeling is to get the vehicle paid off asap to have extra monthly cash flow to contribute to future reserves for REI.

When we initially fund the company, do we deposit into the Holding LLC? 

If so, then you are off to a good start, but why are you rushing to get limited door income while maxing out your initial debt capability?

The original goal was to rehab, appraise, and replace the private lender with a conventional loan.If I were to sell, I could initially offer 100% O.F. for about 6 months, then I would need to get enough cash (call that amount 150K) out to pay back my private lender. 

Then use those proceeds to buy the new property for cash (and perhaps, down the line, do a cash-out refi on that one, too)Refi isn't going to be quite as good as initially buying with a conventional loan, but is probably still the least expensive way to go.  

I intend to initially focus on single family and duplex properties that require moderate fixes.