Poor screening practices is a death spiral that no one wins or can break free from until the property is in foreclosure.

If you're looking at something other than a college town or tourist areas (which are unlikely to have properties that inexpensive), I'll bet that you'll have a harder time than you think selling off those new lots.In general, unimproved land moves more slowly than regular homes. 

Vetting as many as possible is the best bet.

Therefore, investing in real estate can be a good way for her to begin her savings and be able to tap into emergency funding.As everyone agreed to this win-win situation, I am trying to take the next steps forward in mitigating as much risk/challenges after obtaining the heloc.

I would bet that it could rent for maybe $1400-1800/month depending on the local market. 

You'll have a very short window (around 30 days usually) to close if you were to win the deal.Day of, you'll need to bring a check (cashier's normally), and usually be pre-registered for the auction.

You’re best bet is learning how to raise capital and be the all cash buyer!

Win-win.

I will say that the one page flow as opposed to multiple pages is a big win - the new setup makes things so much easier.

I'd be willing to bet in the next 6-12 months prices will drop.