@Kyle ReynoldsMy answer is maybeIf you want it as your primary residence (either now or in the future) and can eat the cost, then why not.

How does an investor/landlord with limited capital source labor that doesn't eat up the profits?

Not sure gravel would cut it here but a 20k driveway eats away a lot on an offer.

In the end I can only guess and a bit gamble on expenses that eat the rents away AND then buy accordingly.

Yes you don't eat a mortgage, but you will have costs such as keeping the heat on in the dead of winter to prevent pipes from freezing, insurance, etc. you want to be conservative with the numbers to give you worst case scenario. how are you looking with capital expenditures?

We have an idea of how much we’re willing to eat in taxes but need better figures to make an informed decision.

I can’t help but feel somewhat heartless looking at this home as a commodity even though someone’s going to get it one way or the other.To the others out there that deal in foreclosures (specifically sheriff sales or pre-foreclosure), do you have any advice on ways I can help these people or ease my conscious?  

I'd be happy to point you to some good places to eat, shop, etc in the area.Are you thinking of Lease Optioning your TX home?

I have no idea why anyone would go backwards.So for environmentally conscious, financially constrained, singles or couples with no children, who like to move around and who are willing to live without running water and sewers it is a legitimate choice.   

We already have high taxes and property value, so the HOA can eat away the cash flow.