Foreclosure

[Anna NA]

Hello,

I am pretty new to investing in RE, but have wanted to do this since I was 12 and have an overall idea of what I want to accomplish as far as buying and renting out.

I currently have an AO on a property which is being sold by a bank and I hope to close in early June. Since this was a foreclosure is there anything I should watch out for specifically when dealing with a foreclosure? The house is in pretty good shape when I inspected it so there is no major structural damage and I am not taking a rehab loan but hope to do some updates after I buy it. This is the first house I'm ever buying. I won't be living in it, I plan to rent it out for hopefully minimum $500/mo cash flow. I'm just concerned mostly about whether I should be looking into things other than what you would when buying a non-foreclosed on property..

-A