I have $30,000 cash. Ive never bought a house. Please help me.

[Priceton Braswell]

Im 23 and I just got a settlement from an auto accident. The insurance company wouldnt cover the medical bills so my credit is 316 but I have 30k cash. My rent is 550 a month. Id like to invest in a property and rent it to cover my rent. Im very open and new to this. The houses ive looked at online in that price range are all REO foreclosed. I havent talked to an agent yet im just starting the process.

Would foreclosed be the best route to take for my situation?

How do i know what to offer or what the house is worth. Is it crazy to offer 30k on a house listed at 40k or 50k. 

Would it be possible to put 30k down and finance like 5k or 10k with my credit?

Ive done construction for years so new floors drywall trim and paint isnt an issue but how can i get an idea of the ARV and what are some major issues I should check for before purchasing other than cosmetics . Any links, or answers will be greatly appreciated. 

I want to use this website for guidance through the entire process. Im very nervous because ive never had this much money and i dont want to screw it up.

Thank you for any help