What am I missing? Auction property, 10 acres, $55,000

[Jason Hawthorne]

I've got my eye on an auction property, $55,000 in a metro area in the South. Has a 3 bed 2 bath house, right behind a chain store and a church.

I'm a novice, this would be my first property, auction has been put off until next month.

I know there are a lot of things to look for like liens and other things that could make this a terrible Investment. I just have no idea where to start. Anyone who's dealt with this kind of thing, any ideas you'd care to share?