Start by reading my blog on this topic:
I've done 20 REO's in the past couple years.
Click on the pictures of everyone who answers and read what their clients say about them. You can read more about what my clients say about me over on Zillow as well.
There is actually one one REO on the market in Celebration today, a 2/2 condo on Water Street. That the one you are looking at?
Good luck, Mark