Teams that are not controlled by a human manager are called Bot teams. These teams have a computer manager that run their clubs on a basic level.
A bot team has only one building: a level 5 training complex. Their player get a small amount of experience from this and can be trained in their trainable skills.
When a new manager takes control of a bot team, the training complex is removed. Your team was a bot team too before you joined it.
When a manager leaves an advanced club, not all of its facilities are removed. The resulting bot team may therefore have these facilities, but it will not use them. These teams can not be picked by new players, but they can be picked by experiences players who left their own club. If this happens, the facilities are not removed, but they may lose one level.
Bot teams have only minimal finances. Their sponsoring barely covers the wages of their players and maintenance cost of the training complex. All the rest is spent on a huge salary for the bot team manager. Bot teams therefore don't save up any money.
They do have a transfer budget. If a bot team sells a player, this money is added to their transfer budget. It can then buy another one, or multiple players for the same value on the transfer market. When a human manager takes control of a bot team he will receive its remaining transfer budget to spend on whatever he considers necessary.
Bot teams can chose between a number of preset tactics, depending on the strengths of their team. This works similar to the "auto" lineup function.
Bot teams can be approached to buy one of their players. You should read the tips on the transfer page of a player to understand if a bot team is likely to sell a player. They are not likely to sell their best keeper, best defender, best midfielder or best forward. Furthermore you have a bigger chance to buy a foreign player than a native.
Bot players can also buy or loan one of the players you put on the transfer-list, but they only do so if no human manager wants to buy this player. They will often bid below the asking price so you have to confirm selling the player to them.
Bot teams will always bid 40-60% of the market value of a player. They don't care about the actual asking price of the player and aren't limited by the restrictions of human managers.
Bot teams can also sell players that are useless t them to "the bank". These players will not move to a new team but are removed from the game. The bot team will get money for them that they can spend on buying new players. In contrary to human managers, bot teams can sell to the bank without adding the players to the transfer list first.