How to evaluate auction properties? How does the math work?

[Matt Ferch]

Hello, just starting out and had a question. There’s a home nearby which is about two being auctioned. Opening bid is $99,000. The estimated value given is about $180,000 (according to website).

Two questions:

How would I go about understanding if this is a good deal, and how good of a deal?

How does the math work? If I understand correctly you have to pay cash at the auction. But from there, can you finance it or BRRRR it?

(If there’s a resource or an article or something, just point me in the right direction I’m happy to do the homework)

Thank you!