You can avoid the most common foreclosure dangers by knowing your market and prevailing prices, doing some detective work to determine the condition of a home, and always buying title insurance.
Remember, also, that a cheap price may not overcome a poor buying decision. People searching for a home of their own should be mindful of all the same factors as they would if they were looking at regular properties.
Investors interested in rental income still need to check out market rents for the area, estimate vacancy rates for comparable properties, and calculate annual expenses.
Flippers will need to prepare repair and rehab budgets if necessary, advertising and marketing expenses, and holding costs until a resale.