Anyone with REO / Foreclosure Experience?

[mheisig]

Originally Posted by FRPLG

Know that almost always with foreclosures you are not allowed inside the house before buying it. Leaving you at pretty elevated risk. You need to get a good deal to make it happen. Things like foundation damage, new roofs, flood damage can eat away a $50,000 good deal real fast.

Yeah, that's why I was kind of steering away from foreclosure auctions and leaning more toward REO homes and bankruptcy homes.

Seems like foreclosure auctions would be a decent idea for investment property, but not so hot for a primary residence.