New to Real Estate - Foreclosed home advice

[Tanner Mullen]

Hey guys,

I'm new to Real Estate, and am looking to purchase my first home. I'm reading the book on Rental Property Investing and am intrigued by the idea of "house-hacking". I am at this point able to get financed, and was wondering if purchasing a foreclosure would be the best way to go if I'm looking to get the best possible deal. Of course it will need some work, and I'm fine with that. The house is appraised at about 126k on Zillow (not sure about the credibility of this source). My goal is to purchase the home, fix it up, live it in it for one year, and move to a new city while renting this one out.  

My question is, what would be my negotiation leverage on a home like this? Also, is my plan possible?

Any and all advice is welcome, thank you for your time!