I did add a little when they uncovered some unplanned repairs (approximately $500 additional).  

Anything closer to Boston will cost more than 250k though, you'll have to live in a not-so-nice area.  

Although, it does not pay for slow repair work or repairs from an uncovered peril.Hope that sheds some light on it.

They don't uncover interests; build rapport; or anchor the purchase price.

If an actual foreclosure has not yet happened, then finding out the ownership of it usually is uncovered at the county tax office and where they are sending the bills.  

So I made some connections with potential sellers, lots of low ball haggling and some not so nice folks on the other end of the virtual line.  

If you do buy in a not so nice neighborhood then make it near a popular   street.

@Mark Nolan & @Jesse Stemle - I will make sure to check out the podcasts, blogs, etc...seems like there's a ton of hidden gems here just waiting to be uncovered!

Having worked many of these deals of all shapes and sizes, I recommend you give the above points thought first so you can uncover how intensive of an investment you want this first deal to be.

The next two that I have started are Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal Klaff, Oren and Making The Yield: Real Estate Hard Money Lending Uncovered Buscemi, Salvatore M.