Tips and/or tales of success or terror in foreclosure investing?

[Jay G.]

I'm trying to get my feet wet in "courthouse steps" foreclosure auctions. I'm subscribed to a foreclosure data source and working with about $500k to invest initially in Sacramento and/or Solano County auctions. 

I have lots of questions in this area, but I would love to hear a story of your best success or worst "lesson learned" type of transaction at the courthouse steps!  I'm sure others would as well. 

Thanks,

Jay