Alternatively, you could work with other investors who are looking for funding (ie Memphis invest), they don't require you to put 100k+ down to invest, or JV with someone who has more experience and knowledge than you. 

Knowledge and understanding the game.

We are hoping to tap in to the BP knowledge for creative financing terms that would be beneficial for both parties. 

What if there is an extensive repair needed?

Liability, neighbour issues as well as extensive ware and tear on the property will be through the roof.

Hello BP, Still new and gaining more knowledge day by day.  

From the outside, it needs a new roof, many/most windows, extensive landscaping, and new siding (about 50/50 brick/siding, brick is good). 

In most states it's clear - real estate can only be advertised for sale with the knowledge and consent of the owner of the real estate by either the owner or a licensed agent.

I am still interested in buying foreclosed homes but I don't want to dive in head first without some base knowledge.

I grew up in the Eagan/ Inver Grove Heights area but haven't lived in MN in 10+ years so my current market knowledge is limited.