Most small multi will not really be turn key per se.. your best bet for those USUALLY is to find a nice commercial broker who specializes in that asset class.. there are some TK providers who do 2 to 4 units in the Chicagoland area as their specialty.

From what I had understood (I have never been to an auction) the bank would simply bet until the mortgage is paid off.

I'd bet everything I own that there's a swarm of COVID-chasing lawyers gearing up to sue Realtors, sellers, landlords, store owners and anybody else they can sink their teeth into.Check to see if your state/county/town is even allowing open houses. 

Your best bet will be in small to medium size markets in the midwest and east coast (for example Illinois, Indiana, Ohio, Wisconsin).

My bet is that he won't voluntarily leave and you'll be forced to evict him.

You're now working at the midpoint of 5% appreciation.With premium parcels of land taken up, you can bet less supply of certain areas would mean even higher appreciation.

Plus I'm going to bet you've paid off part of your mortgage. 

I highly doubt they only make $1,500/house bet on average.

So I’d be an amateur playing in a sport for professionals.

So it's not strictly an investment property I guess - in that I bet it will not be positive cash flow.