I bought a property in foreclosure and had a chance to chat with the VP in charge who signed papers at the auction.

I would be looking for highly distressed properties, properties that have been on the markets for +100 days, auctioned properties, or wholesale deals.You mentioned Warren Buffet as well and one of my favorite quotes is: “Be fearful when others are greedy, and be greedy only when others are fearful.”I also 2nd @Pete Woelfel, that @Marcus Auerbach know his stuff up in MKE!

However, using propertyshark, we found out that the house is in foreclosure and has an auction date set within a month.

Does anyone have any experience with these types of sales/auctions? 

You are a complete novice and you want to spend 550k on a Hubzu auction where you will pay a 5-10% premium on top and have no allowance for repairs or requests?

They aren’t hosting any auctions so I can’t find buyers that way either.

There have been a number of tax lien cases across the country where winning auctions bidders ended up with property where cleanup cost more than the bid.. they faced choice of taking title and performing cleanup or forfeiting their deposit and walking away.....

I recently won a bid at an auction for a property that was bank owned and haven't closed yet but have contract in hand. im currently marketing/wholesaling the deal to the marketplace. unfortunately since it is bank owned i will have to double close on this deal. i found someone who is interested din the property but would like to subject-to this deal.

Forgive me if this sounds like word-play but as someone who has bought multiple distressed properties on Oahu, including a foreclosure at auction, it was an important distinction so as to not attach an emotional preference to certain properties. 

A property with the PERFECT location for a short-term vacation rental is coming to auction.