Yes. This is a great area for "flipping" houses. Just have to make sure you purchase wisely and don't overspend on updates. Depending on the neighborhood many buyers may be first time home buyers and you want to be careful not to price your property out of the market just to make your numbers work. Work with an agent who has experience in the renovation re-sale market who can run a good comparative market analysis for you and let you know about how long properties stay on the market in the area. If you are going to buy foreclosures you are going to rely on this relationship so that you can act quickly and not miss good deals. Things move fast in this market!