need sheriff sale advice

[Alvin Smith]

I found a house in Sheriff sale in Franklin County on August 15th. It seems like a real diamond in the rough. I don't even think that rough, just a sleeper. There is only like 6700 in back taxes owed. The best I can tell - they a not auctioning a tax certificate, they are auctioning the house, and if I read right, its zero minimum bid. 

So I drove by. I thought it would be an awful neighborhood. I was shocked. Clean. Looks like mostly seniors, looks like owner occupied area, pride of ownership in the neighborhood, etc. If you don't know about Columbus, ohio, there is a massive shortage on the lower end of the housing market in both houses for sale and for rent. 

Surprise number 2. The home looks decent. I thought it would be boarded up or something. Just the opposite. Mowed lawn, etc. Flowers, etc. Its 2 minutes from I-670, maybe 5 minutes from the airport, and 10 minutes from Easton - the hottest shopping mall and entertainment center in Ohio. 

This will be my first attempt at purchasing an investment property. My question is - how do I know how much I should bid. Any help, I would so appreciate your thoughts.