Don't understand why the loan.  

Find a new real estate agent and understand the angle they come with-- and be prepared to stand firm.

I understand I may have to pay some expenses out of pocket but in few years with increase in rents, property appreciation and tax benefits can help in long term.

While this is true it is important to analyze the market as a whole and understand if it aligns with your goals.I am an agent and investor in the area, and would be happy to give you my insight on the market and what is happening right now.Reach out anytime!

You must understand how the liens and judgments interact with each other, which fall off after the foreclosure.

If he /,she understands remodeling and good deals he/ she will send them your way.These are the starters.Good luck Dave

I totally understand wanting to get started investing and I applaud you.

Nothing wrong with investing there, but just understand that things are typically "cheap" and "expensive" for a reason. 

Need to understand your taxable income as well to know if it benefits holding them for depreciation.

Just to make sure I understand, what are you planning to do with the property?