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.

So at some time prior to the purchase you bring in 100K from anywhere - cash on hand, or a loan on something else or ???

Follow your policies and procedures, take the emotions out of it. 

The most dangerous situation is the landlord that owns 1 property.If you are midway between residential and commercial (5 properties) the insurance companies start considering you a risk and will only cover you with  more expensive commercial policies that require you to go to LLC's while LLC's might not be appropriate for someone getting new mortgages and has existing mortgages.What is the saying-go big or go home?

Old quitclaim deeds piled on a contract forfeiture with 3 old land contracts not conveyed properly where one or more prior parties are now deceased.  

I'd call the customer service line of the providers and ask them what their policy is and let them know they have damaged your home and what you can do to avoid it in the future.  

During the time prior to the foreclosure we were able to purchase another residence that we live in now, and have equity in.  

I won't deal with a carrier that needs to do pictures or individual policies on each home.  

The prior owner most likely could have sold the property for way more than the auction winning bid.

I have been an investor since 1985 and still enjoy it to this day, you must be very when investing in real estate my recommendation is to educate yourself and make sure you are prepared.Here are some good questions to ask yourself prior to deciding which type of investing avenue to take.Why do you want to invest in real estate?