Don't buy stuff on credit.
If you must have a mortgage put down at least 20 percent. If you can't come up with 20 percent then you will pay PMI and probably will be in a pickle with the first roof leak or furnace breakdown.
You need people to invest in these homes that have the capacity to keep them up. Highest bidder is probably not the best way to sell these; you need to be able to pay cash and have a good credit score.