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As a real estate agent this is a horrible idea. The biggest problem with foreclosures are the banks themselves. They are the ones who have ****ed up to begin with for the most part. Alot of the houses on the foreclosure market are there bc of the bank's stupidity in giving the loan. Not based on the people's income to pay off the loan but on the properties themselves. Lot of stupid ass ideas that never should have been given in the first place. Then when you try to sell a foreclosed home, its an even bigger cluster ****. And of course Freddy Mac and Fannie Mae homes are even bigger pain in the asses.
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