Unsure of REO?

[John Blythe]

hi there,

i'm wanting to get into more of a long game scenario w buy&holds, but keep hearing that wholesales, flips, etc. are a great way to generate some quick (or quicker) profit that can then be used to help to fund the b&h strategy. 

i don't know the beginnings, however, of what to look for/watch out for in relation to that sort of strategy. this was just sent to me by zillow because it's in the area i've been looking: http://www.zillow.com/homes/for_sale/fsba,fsbo,for...

it's a super solid area with incredibly high demand. this could end up being a buy & hold, actually, since it fits a lot of the things we've been looking for and is in the area we'd prefer no less.

i guess my question is simply this: how do i best assess this in terms of it being an REO? is it worth pursuing at that point?

thanks for any insight-