I typically wouldn't want to buy a building that is so old, but the numbers on it are looking very promising.

Lots of activity on those auctions though and typically get bid up higher then my MAO.I know how to find the owner and contact them directly but what is the process to buying directly from them prior to the auction date?

She suddenly remembered wires that she had forgotten for her TV (she had 2x 5" holes cut out of the feature wall to hide her cables, without asking) so it was easier to have her reputable painter guy pop in and cover up the holes and remove her last items without me having to see her again.My fault for not just getting it done myself I suppose but she is the sort of tenant that uses Court Action in seemingly every sentence and was seen taking pictures of everything when she left and even took a picture of her notice taped to my front door so I was trying to minimize any court action by at least keeping her in the loop of all the damage so I could get her replies by text to use if she decided to challenge my return deposit amount.She did admit to the burns in the carpet (stupidly putting hot coals from the fire in a plastic home depot bucket) and argued that it wasn't cat urine but vomit as her cat had cancer (but obviously didn't think to clean them or have them professionally cleaned).  

If I do the reno right away, I rent them for a year or two and then sell them off typically off market since I have quite a number of people who know me via bigger pockets and are looking for turn key properties. 

Turnkey typically means single family or at least small multi and totally optimized.

I've had rental properties in the past and rely on cap rates to typically understand what I will make.

Typically hard money loans do not appear on your credit report (unless you are foreclosed on) since they're not in the business of reporting credit, but they will pull credit as part of their underwriting, so you will have a hard inquiry on your credit report.I've always used hard money for all of my deals. 

You have to stay in your FHA probably for about a year, I don't know much about your market but if you went with conventional financing (typically 20%) it may be difficult to find homes in the $50,000 price range. 

@Michael Robbins What do you about the rent for a typical 3 bed 2 bath house in Siverado Ranch area?

The best feature I find is that it tells you how many people have contacted the listing in the last week.