A vendee in default may, prior to the expiration of the thirty-day period, avoid the forfeiture of his interest under the contract by making all payments currently due under the contract and by paying any fees or charges for which he is liable under the contract.

You would then have your usual 45 calendar day identification period and 180 calendar day exchange period  to completed your 1031 Exchange. 

If you called your mortgage company and told them that story would they give you a late grace period.

There is also a redemption period where the owner/previous owner has the right to pay back taxes plus penalties, fees and interest within a certain time period which varies by state/county.I think there is money to be made but here are some problems I see:1.

You have risk that rates could rise a lot in the period, and refinancing could be tough, however you'll be saving near $11k in interest. 

What you won't be buying is a property held by an owner with a revisionary deed that after a period of time or upon death reverts back to the grantor, or a restricted deed that may revert back upon some future occurrence.

I was just curious if people in a similar situation when they started, started with wholesaling, finding subject to deals, etc. until they accumulated wither enough cash to make a purchase or got past the 7 year period until they could get financing.  

Plus, the plants periodically try to buy the properties that are close to move the people out of the areas for liability purposes for higher than market value. 

YA just remember it would not be smart to do anything with the property until the IRS lien period has expired.For example if you do a clean out and put thousands to tens of thousands in repairs and the IRS decides to redeem you will not be compensated for any of that.

Every state is different, but typically you have to work under a principal broker for a period of time, say 2 years, before you can go out on your own