3 Unit Townhome auction

[Nicholas P.]

Thoughts on this deal?

Home is up for auction with a ARV of 365k or more. 3700 sq ft. Looking to flip and keep as rental. Potential rent $3200 a month. Good neighborhood, walkable, and near public trans and major highways. Auction says opening bid is 150k but if the rehab nears 100k I shouldn't pay more than 165k for this. There is a buyers premium as well. I've been running lots of numbers and have a contractor taking a look at it to get a better idea of the rehab. Is it likely that other investors are going to bid this up higher? I've seen this a few times at auctions, probably from investors that do the work themselves. There are some colleges near by and likely would have college student tenants. I know lots can go wrong but if the deal works what are some experiences with college student tenants? Thanks!