I know typically with courthouse auctions it is a very quick turnaround (maybe 24 hours) from when your offer gets accepted to when the payment is due and you close so you will have to be comfortable with the added risk of not being able to do much due diligence, or will have to scramble to quickly verify you are buying a clean title and to produce the cash for purchase if you don't have it already liquid.

I wanted something slightly larger but the market area has little available.

It was really fun to see the changes come along on the larger house.

Last summer 2019 I sold my business with the intention of using the proceeds as a downpayment to buy a much larger cashflowing business, utilizing the SBA 7a program. 

This is usually split using square feet so the unit with more square fee pays a larger portion of the bill.

It is assumed by the state that any rental larger than a 1 bedroom will fall into this category at some point because of the anti-discrimination laws that prevent landlords from refusing a family because they have a child.

That being said some larger markets still have strong growth like San Francisco, Toronto, etc but even those may have specific pockets within them that perform differently. 

Plus you get a much larger tenant pool this way. 

In roughly two years, I'm looking to buy larger home, perhaps a bit more towards central jersey, and instead of selling my condo, I'd like to rent it out(my first rental!).

You should also consider administration and the amount of time you’re willing to spend.The larger lending lawyers want to talk everyone into mortgage funds or REITS.