@Sue Deng  please take no offense.. however If you do not even understand this basic question.. and folks in foreclosure are under EXTREME duress and stress how is someone like you remotely going to help them.. other than for your own self serving gratification.to come on BP and ask this question just floors me personally.. the blind leading the desperate and this usually leads to those your trying to rip equity form to end up just losing their house. 

I would avoid renting to anyone with this type of offense on their record for a variety of reasons. 

Well, considering the lender is more than likely a federally regulated and insured instituion, defrauding them makes it a federal offense and sticking it to them on a transaction because they are the big bank that caused this mess in the first place, isn't the defense i'd want to use in front of a judge.

Agents have to abide by the 'codes' set forth by their licensing board, state, etc... but breaking those codes comes with penalties (they're about $100) and at worst the loss of their license (it would have to be a MUCH more serious offense than a ghost offer).

No offense, but if you don't know what constitutes a good deal, you should probably be removing a few zeros from your price point to start out.Then check out this article:http://www.biggerpockets.com/renewsblog/2010/06/30...Then start reading everything on this site having to do with rentals, and that should help.

Rusty, no offense, but I laughed that you read those two books and are ready to go buy something. 

@Shelly Forte no offense taken here!

Joe- Thank you for your feedback; it was tough work to get some stability in my family's finances, I feel good where we are, its now to turn on the "offense".  

No offense, but I think you need to do more research about the "area" you want to invest in. 

If you're using him on vacant property then there is little chance for him to repeat the offense.