0-3.5% down on a foreclosure

[Jayanth Reddy]

I found a property for foreclosure. It was set at $180k and area estimate showed a real value of over $250k. I know that on paper it looks like a great deal. But, this is my first property I am trying to buy and my sole purpose is to live in one bedroom and rent the remaining to generate cash flow. I would like to know what potential issue/markers should I be looking for? I am definitely not a handyman so hardly can do any kind of major repairs myself.