Purchasing foreclosed home with little to no money down ?

[Alexandra Preziosi]

I just have few general questions about purchasing foreclosure properties. What are some pros and cons? Is it possible to purchase with little to no money down? I know many properties especially sold at auction are cash only so I am unaware of how frequently investors mortgage these properties or if they are even allowed to. Finally, typically how much purchasing power does the buyer have in a foreclosure scenario ? Thanks!