Tips For Buying Foreclosures At Auction

[Kristopher Ames]

Hello BP Nation, I am currently looking to bid on a foreclosure property that is coming up for auction at a sheriffs sale. My question is what steps should I take to mitigate risk. The sheriffs sale states the judgement against the property is for $87k. Is this the minimum amount I can expect to pay? Could their be other liens against the property not included in the 87k that I would be responsible for? Where is the most reliable source to get this information? The property is a 2 bed cabin with detached garage on 2 acres with a river view in a vacation area with higher property values for the area. My plan would be to BRRRR the property using a 401k loan to purchase, cash to rehab, and market it as a short term rental but the numbers would have to work as a long term rental as well.