We still have a great school here (Mississippi Women's University) and obviously the base provides much of the business for the surrounding area and neither one of those are going anywhere.

To me 2 years isn't enough time for a tenant or their circumstances to have changed enough for me to think this would "never happen again".

Or am I misunderstand the circumstances in which this is allowed or not and how its done?

The tax circumstances between an IRA and personal funds are very different.  

What were the circumstances on something like that? 

Beyond that everyone is different.Are stories and circumstances are super close! 

Bpers, I thought I'd share the results of an afternoon of driving for dollars...1) Located 25 distressed properties2) Various surrounding circumstances and conditions (code violations, foreclosures, "pretty and ugly houses"), etc.3) I have yet to research the properties to determine if investible.

I have been dabbling in sectional title property [the equivalent of condos] since 2003 but only became serious as an investor in early 2014 after reading "It's Rising Time", a book on investing for women by Kim Kyosaki.  

I plan on calling the phone number on the sign but want to be more educated about the property and the circumstances surrounding it beforehand which leads me to my questions...How do you research and evaluate foreclosures?

It just depends on the circumstances.