Thank you for your question and reaching out on this platform for an answer. I have to echo the other answers, this is a question for a loan originator. My main concern here is the home your interested in buying, which is going to sheriffs sale. You need to get an realtor on board as soon as possible.
A Realtor will help you to determine the current market value of the home. This is important because at the sheriffs sale who ever has a loan on the property will bid on what is OWED on the home plus their cost, NOT on what the property is worth. Why is this important to know, because the home may be currently worth lets say $150,000, but $185,000 might be owed on it which is were the owner of the note will bid at to protect their interest in the property which they have a fiduciary duty to do so.
Get a Realtor to assist you in determining it's market value and then work with him/her through the process. You may be better off letting the bank take back the property at sale and then wait for the bank to put it on the market at market prices.
All the best to you in this venture!
Depending on what type of credit issues and snags you are dealing with you may be surprised on what you hear once you speak with a lender. It is a good idea to start somewhere to get you both headed in the right direction. I can connect you with a few great lenders and loan officers that can guide you in the right direction whether it's buying sometime this year , or based on what they find , possibly being a few years out. Have you considered lease purchases in the meantime ? This is a good option and potentially will build some accumulated rent into the purchase
Email if you have more questions or would like to get going on seeing what you can do!
Hope to hear from you!:)