There's a lot to unpack here... and it's not my goal to be a 'downer' on your aspiration... but just telling you my experiences to caution you about being new to the game...First - I don't think we know what state you live in, so just know that foreclosure auctions are handled very differently all across the country.  

I have not owned a venue before but have extensive event planning experience. 

In my experience, if you don't have that edge, you will likely struggle at active investing and you are better off in syndications.

If so, can you share your experience?

It was a very bad experience for me that could have been easily avoided if they had any professionalism and commitment to doing what they advertise they do.

Here's my experience and understanding of the law about security deposits.You cannot hold back money for anything that is normal wear and tear.  

In my experience, you can build capital much quicker in the wholesaling world than with rentals or other strategies in real estate, BUT, if you are starting your business it takes a lot of work to get going.

You may get some people off the bat who won't want to take on the project.I'd also recommend having a timeline in mind for how quickly you want to get the project done and asking each contractor if they have other trades they have experience working with and like working with. 

This could help you confirm who you are communicating with and can get you direct answers to your questions about the property.Facebook ads are cost effective but lead quality, in my experience, has been very poor.

I know that to get there I need 1) more experience and 2) more capital.