I am looking to find out any of the quirks of buying foreclosures and what I should watch out for and do to make the process go as smoothly as possible.

I might be recalling the 2bd/3bd rates incorrectly, but in my one bed it is $60 flat.

That said, I think you're evaluating it incorrectly.

Your calculations are incorrect when referring to underwriting a non owner loan.

@Robert Yarnell the way I was thinking (which is incorrect looking back becuase the margin was way to slim).

You are more likely to ruin any chance of true investing if you try to start with wholesaling since your reputation is everything and wholesaling incorrectly can quickly ruin your reputation with sellers, buyers, agents, attorneys etc.. and then that's about it for you.I know it sounds stupid but wholesaling is something that comes to you more than you trying to figure it out with no experience..

@Diego CarrilloYour agent is absolutely incorrect as HUD provides up to 3% to the buyer's agent with a $1000 minimumThe bigger issue you are going to have is twofold. 

They continued to send over contracts where the math was simply incorrect and had me overpaying.

Nothing was level, the spacings incorrect, and was never sturdy.

Sigh, again someone who doesn't understand the 2/5 year rule after a property has been a rental and spews incorrect information....The capital gains exclusion is pro rated after the house has been a rentalllllllllll...