If you only have 2 candidates the odds of having one complete the auction is small.  

It is a townhome so the yard is very small and the backyard is all concrete so the landscaping point is not as applicable here. 

Start small and Make Your Big Mistakes Early.  

Bozo and Krusty, who are absolutely desperate for a place (almost always for good reason), are who WILL apply for overpriced apartments, usually because they have no real concept of how they're going to afford the rent.Turnover and vacancy are what kill you in the LTR game, and they kill you faster if you're working with a small portfolio.

You could lock the oil thermostats at like 50 for a baseline heat and let the tenants heat the rest of the way with their heat pumps.I can beat that with some ice and a small fan 

Most small businesses fail, and he goes into great detail on how you can avoid becoming a casualty. 

-of the people who are interested, most will want a price that is too high.so out of that, you might get a small number of actual leads / motivated sellers.with that said, though, are you networking with investors and wholesalers? 

My down payment will be just as much as he still owes on the property, some small expenses, and maybe some prepaid taxes.

While I'm on the lookout for my first deal I've been building a small network.

There is a better forum for this under Real Estate Strategies called Buying & Selling Small Businesses.