Banks might ask for property inspection reports - this has the same problem as before.Try to find these before the foreclosure auction, so that you can get a more normal buying process, with appraisal, title search, inspections, etc.

I think I could just resell it without much of a problem as the county has it valued at 60k and comps on the road can go well above this.

They just make so much money selling them that it pays them to keep selling them rather than retrofit their production to fix the problem. A

If your an investor and an agent, I don't see the problem as long as you are not representing the seller.

My problem as I mentioned is that I don't have much cash to play with.

As per renting a house, if the foreclosure is the only blemish on an otherwise good credit report, you should not have much problem as the largest pool of renters is currently made up of people who have lost their homes in foreclosure.

Jaham, Rich, Freddy and others have touched on multiple aspects of the problem as well.That's it.

Selling property just before filing for bankruptcy can cause a problem as the court will decide if the transaction was at a fair market value.We are moving to the country....something wrong with the neighbors, do they complain about your kids.dogs?

True whether you have a PM or not, since a PM can be as much of a problem as tenants.

I would agree that increasing your income would help alleviate the problem as well.