Gas Fireplace - Starter or Gas Log?
That is a wood burning fireplace with a gas starter. The intent is to use the gas starter to get your log fire burning. You can then shut down the gas starter jet.
Since it's a foreclosure the flue may not have been maintained properly. It would be a good idea to have a professional come in to inspect the chimney liner to ensure it is in good condition and doesn't have soot buildup.
Wood burning fireplaces require chimney cleaning every year or two, depending on use, to prevent flue fires.