You said you're trying to buy the house from someone who is in foreclosure (not yet foreclosed on).  

I’m in that market, I specialize in this sort of thing, I’m happy to give you my 2 cents.

Is there any advice that I could receive in this being my first-real estate investment? 

I don't think there is one condo that sold in Plano for $150,000 or less in the last year. 

Thanks in advance for sharing your expertise!

We bought a home built in 1900, insurance water damage coverage is 10% of the dwelling limit. 

Not sure why that happen, however the best way to screen a potential tenant is to see how they have performed in the past. 

We're in Burlington County, also in the Philly suburbs.

A preforeclosure period of 120 days is required before a lender can enter foreclosure for lack of payment.  Rather than that, if a loan is called because the property underwent a condo conversion (apartments into cond...

I started investing in rental properties in the Scranton area around  6 months ago, and I also just started doing Fix & Flips in the surrounding areas Olyphant, and Taylor, Old Forge. and I would love to ask if you are doing in this area please share your success stories in that area, I am really curious if people have seen success in this cheap market, and let's help each other with info,  I would love to hear from you, and help you with the knowledge that I gathered in this 6 months.Thank you  I would love to hear from you.