Do yourself a favor and find a Realtor to work with on the purchase of a home. First of all, Realtors are a resource for buyers to use. Since the Sellers pay the commission's for both sides of the transaction their service is free to you.
Second, a Realtor's knowledge on the contracts needed to purchase a property is there for your protection and they are also backed by a team of legal staff in case you do get into trouble.
Finally, Realtors work hand in hand with lenders who it sounds like you will require to get the job done. Understand this, investors that are at the auctions daily still get burned from time to time and they have the cash. Can you afford that to happen to what you have in your pocket? Be smart, hire a professional.