A 3 bed, 1.75 bath house in a great area, walkscore of 73, safe, near transit and all kinds of things I used to enjoy when I lived in the area before!
Ended up winning the auction for 140K for a total purchase price of 147K with 5% buyers premium. Still, the house is worth approx 180K. Will see when the appraisal comes in, but I've gotten pretty good at doing comps.
Super excited. This will be my fourth house, and I will turn my existing primary residence into another rental, so I will have three rentals. I do still intend to get one more house to max out my loans (one house I own was paid in cash) and have four rentals eventually.
So far this auction thing has been better than traditional MLS hunt and pick strategy which seems to take forever. To be fair, I did find the house on Zillow, but it ended up being the fact that it was an auction listing that was the deal; purchased well below market value.