As an investor, I love HomePath financing for FannieMae foreclosures!

I'm starting to gravitate towards that due to the opportunity of the hands on aspect.I went to a foreclosure auction in Westville on Saturday.

The other day I saw such a deal and see if my strategy makes sense but it was already under contract (townhome that looked great in the area I wanted for $138k).I want to get a townhouse for around $130-150K using the site (doing the various inspections and being careful about buying a foreclosure) in an area around 3M corp where I can rent it out to local young professionals who have just moved to the area (if the townhouse allows me to do that?

http://www.atgf.com/tools-publications/pubs/deeds-lieu-foreclosure-advantages-disadvantages-and-draftingLand contracts or contracts for deeds are pretty well dead.

I'm using the time now to work on my primary residence which was a foreclosure and now that I'm less busy, reaching out networking with others and looking for opportunities.

What you want to do is what my husband and I have been doing for the past 12 years, we have been doing it this way which is the way it has worked for us:Our first home was a traditional sale FHA the house was outdated it needed a lot of work in kitchen and bathrooms plus carpet, we lived there for a few years mean while we were fixing it little by little with money out of our pockets the home cost us $117k we sold it for $220k, with that money we bought a piece of land (more like a lot) for $35k and built a house on it for $60k sold that one for $120k, we were fortunate to sale the house when price of homes here in AZ were really low we were able to by 2 houses with 120K but they were foreclosures and one needed a lot of work the other one also need some work but not as much so we lived in that one till we finished fixing both up the one that needed a lot of work (ugly one) cost us $40k and we put $20K into it we rent that one out now for $900 per month we are holding it for a few years to avoid paying a lot of taxes, the house has recently been appraised for $136K we have had the house for 2 years.The other house cost us $60K and only had to put $10k into it (we just put new roof, fixed rv gate and painted house inside and out) we sold it about a year ago and sold for $138K, we recently jumped to our next home which we live in it now we got it a year ago for $157K it was a short sale we just painted and fixed the pool and now it has been appraised for $225K.

They have been perfect tenants (couple and 2 young children) keeping the place spotless and they never call (home was totally renovated a few years ago from a foreclosure).

I'm not having much luck finding homes that meet my criteria in my local multi-listing.... would love some advice on finding local west Virginia foreclosures and more info on bidding on short sales...thanks

Each month the balance to buy is reduced but 1/360th.Technically looks like an owner finance deal but with eviction rights rather than foreclosure rights.

I live in Missouri where most foreclosures are non-judicial.