Auction.com bank owned property

[Eric Lawson]

I recently did an analysis on a property on auction.com and it looks like a really good deal for a fixnflip with a possible profit of 30k depending on the sales price. The bidding starts at 55k with an ARV of 120,000. the top of my budget would be about 70k repairs est @ 20k-30k

My question is does anyone have any experience with purchasing from an auction site and what process would I need to take to get access to this property it is occupied and buyer is responsible for obtaining possession. Also what should I look out for when purchasing this property.

Thanks and all answers are welcomed.