Most will just tell you never invest in  property under $40k you will regret it over time....Also never invest in War Zones you will end up loosing more than you invested..

However, if the home goes to foreclosure again, it is the junior auction winner that stands to loose the most, as the new deed holder. 

I say this loosely because I know it's so much work.

After for looking for over a year and at hundreds of properties and loosing so many houses when I am literally approved up to $375K for a loan I am just DONE with the Denver real estate market.

Back during my days in the navy, financial troubles was a ticket to loosing one's security clearance and bankruptcy could possibly mean a discharge.

Note my break-even point is 5% so rates have to be higher than 5% for me to loose money with ARM over 30 year fixed.

The all in one glacier bays for 80 something have been fine for my baltimore rentals....however, if there is a toilet seat you can find that somehow never comes loose, get it.

The previous tenant complained about one of the doorknobs being loose, which made sense since someone had taken them apart at some point over the last five years.

This means removing 100% of C violations (mold, fire safety, mechanical), 80% of B violations (vermin, loose fixtures, broken tiles, smaller stuff), and 80% of A violations (really stupid items like a light bulb out).There are more - so many more.

The gist is that all mechanicals must work, except as stated before the AC.I think you need to bring these questions to you lending broker/bank to see what the information is from the horse's mouth so you can go forward confidently and not loose money on inspections that could have been avoided.Best of luck!