Of course this would depend on what we could get it for.This auction requires 3% down to bid, and then requiresan additional 7% (so total 10% of final purchase amount) within 10 days of the auction.

When we find out our info isn't correct my job is to correct it.

The companies that will insure them still need to have the title company make sure the foreclosure was done correctly.

I want to make a correction @Marci Stein that the property is actually north of Liberty, in Parksville, NY. 

The son made all the repairs to the unit which at times were not correct.

As long as it's utilized correctly, under leveraged, and viable from a financially defensive position, you can create tremendous growth - faster than you otherwise would have. 

@Jesse SmithCaleb is correct that you will pay capital gains tax on the "gain" which is selling price less adjusted basis in the index fund.Do you have a considerable gain from the sale of stock?

If the home is in foreclosure and if it's an auction date, then you can look at the published bid.

@Amadeus Hladun where do you intend to get the renovation funds and do you actually have the skills to estimate correctly and execute a fairly major rehab ??

I have seen clients get outbid at sheriff sales because the value fo the bids were starting to meet or exceed the value of listed homes in the neighborhood.