Family member in foreclosure

[Torey Carden]

Hello BP Fam,

I'm new to the real estate investment space and need some guidance in particular foreclosures.

My wife father's home is going to be sold by mid mouth around the 15th or so in August by the way of foreclosure (Court house steps) The reason is that he has now been relocated to a nursing home to receive the proper care that he needs. My wife and I can not maintain two separate house holds and so she and he brother decided to let the house go into foreclosure. The home has two mortgages that was taking out which totals way more that what the house is worth to pay month to month.We would like to either rent it out or flip it, but homes in this area are not moving and realtors have more inventory than there are buyers. Now my question is how can I mange to use this now opportunity to raise private funds to buy it back and use this home as our first step in starting a real estate investment career? My medium goal is to get into apartment buildings and now this may be the path of getting to that goal, any and all suggestion are welcomed, Thanks