Won a house Auction! First deal. What's next!?

[Tashina Taylor]

After analyzing house after house, we finally found an auction house worth bidding on. Even had a little bidding war! We got a 3/2 house with a giant shop on .4 acres for $61k, its ARV is looking to be around $130k minimum. The town is VERY small (~2,000 population), very rural, but has gig internet and is less than an hour from Yellowstone/Cody, Thermopolis, and Ten Sleep, Wyoming. I'm guessing houses stay on the market there for quite a while, and obtaining this just before a Wyoming winter isn't all that ideal - however with the COVID19 situation, we're feeling lots of people are suddenly interested in living in small isolated towns - and one with GREAT internet and where chickens are allowed?! So appealing! Of course, we've been interested in investing in rural towns for years now. They often lack rentals, but as many have stated on the podcast show, you can get stable renters for life.

As auctions go, it's site unseen. As soon as the paperwork is complete, we'll be making a 3 hour drive to see the house to do our initial walk-through and decide how to prioritize the work...hopefully next week! And luckily, it appears that whoever had it last was trying to fix up the place. The pictures were low quality, but it does appear that the flooring might be new, and so is the water heater. Hopefully the roof is good condition, but really that's about the only thing that looked questionable (and also the pile of personal belongings left in the house). Does anyone know what to do when it comes with an abandoned vehicle?? There's a creepy van that we'd love to convert to a camper while we're at it ;)

We're so excited that we are finally starting our first real deal and we FINALLY get to make a blog post for people to follow along. Does anyone have any suggestions as to what do with a successful auction buy? It was all cash, so I wonder if getting it refinanced or a HELOC will be too hard.

Thanks for any help!