Houses under 100k have declined by about 15% even though demand is strong for those properties by home buyers as that is all they can afford.

Then next time around when they are first late you will know how to post notice (in MO it looks like it is called demand for rent or possession).  

This is a pretty textbook specific performance case where you could demand in a court case that the judge orders the seller to sell the property to you for what you proposed.Also, how did you not discover the foreclosure? 

This is the "Nonpayment Petition Program"  For the Upstate link scroll down to the section that says "Start"  and click on Landlord non payment rent demand program. 

high demand Lessons learned?

She Who Demands Not Very Often demands a screened porchbe built for litter boxes and cigarettes.

Portfolio Lenders typically look for DSCR of at least 1.0 depending on the area where the properties are located and their values - Min property value for each property $50k and up to 20 properties per portfolio loan - more if properties are in a huge metro area with high demand

In no particular order I have listed some of the most popular markets for out of state investorsCleveland, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeBirmingham, AlabamaKansas City, MissouriSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

With those funds - I purchased (in full with cash), numerous investment properties.I focus on nice-sized condos or townhouses in high demand areas with good equity growth.

What is the demand in the area.