I would look at REO’s. The problem with auctions is that you are basically buying site unseen. You can’t do an inspection to check out the roof, furnace, bathrooms etc. You also are not always guaranteed a clean marketable title. Because REO’s are owned buy the bank- and are sold thru Realtors- you can fully inspect the property, get a clean title, and can get a complete picture of what the fix up project will cost before purchasing.