Foreclosure properties are sold as is, so you will want to make sure you have cash reserves for needed reapirs.
You will need to have contacts in plumbing, electrical, roofing, painting, and pest control,as many of these homes will require repairs that should be done by lic professionals.
When writting your offer make sure and submit your BEST and FINAL offer. Banks often times do not counter. They simply select which offer they deem to be the best.
Be patient, many investotrs are taking advantage of this market, so you may find you will have some competition. You may have to submitt a feww offersr before you get one accepted.
Last, make sure a get yourself a deligent buyer's agent. You will need someone on your side who has the time and energy to take the journey with you.
Much success to you.
Kawain Payne, Realtor