Still want the house.Looking around for insurance quotes and two of the brokers provided preliminary quotes for Home owners insurance, wind storm insurance and flood insurance. 

I am now thinking should I convert my double car garage which I am not using into 2 additional bedrooms ( app 11 x 11) complete with a standing shower stall and small living room (10 x 11) and also convert my basement bedroom (12 x 25) into 2 bedrooms at preliminary estimate of $32,000?

I myself do preliminary title searches online to find any issues before I spend to much time with a property.

I use it just as a preliminary number when doing a quick deal analysis 

The preliminary stages listed above will cost money but you need to start somewhere.  

To answer your question, no.The population is too small making the pool of rental applicants even smaller.As others have said, the numbers look good (and as you said, they're preliminary), but I bet as you dig in, you'll realize the reason it went to foreclosure had something to do with the recession driving down the rental numbers, etc...Good luckStephanie

It's fine to have a preliminary discussion with a lender about their requirements but don't expect someone to spend too much time for free analyzing a scenario that you haven't got under contract yet. 

Contact those sellers, explain what you do and what you may have for them down the road, and establish that preliminary communication that could lead to a future deal.Cash Sale ListsWhat better way to find potential buyers than to look at who has been buying properties with cash?

DOES A PRELIMINARY TITLE REPORT HAVE TO BE SIGNED AND NOTARIZED TO HAVE IT FILED AND RECORDED IN THE ONLINE PUBLIC RECORDS?

If you are buying a property at a foreclosure auction you definitely want to do some preliminary title searches before you buy it so there are no surprises once you actually own it.