Are REOs worth it?

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I am brand new to investing in real estate, although I have a background of working in the industry. I am very glad I found this sight, and I have learned a lot of new information, but my question is this: Are REOs worth it? On this forum, it seems like you guys are saying they aren't that great of a deal. Yet I am assuming most of you deal with them? I am just confused about the seemingly negative attitudes toward them. I have found several in my town that I am very interested in, and I am mostly confused about how much I should offer. I don't want to offer too much when I could have gotten a property for much less. But in searching for an answer to this, I have almost been talked out of REOs altogether. Are they really not a great deal?