If a third party buys at foreclosure they do not get this exemption and owe the entire amount. 

Can you buy a house and be within reason of what your current rent? 

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Demand’s steady, driven by Johns Hopkins, young professionals, and some urban renewal buzz.Single-Family Rentals: SFHs are solid too—$200k-$350k buys you a 3BD rowhouse in up-and-coming spots like Patterson Park, renting for $1,200-$1,600/month.

Things like excessive dining out, bad habits, subscriptions, or impulse purchases and showing how redirecting those funds can lead to meaningful progress toward buying property.

PS I’m all for buying real estate , but we know that having a  job can be a blessing for many people starting out. 

My next goal is to implement the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method, specifically in Birmingham, AL, and focus on Section 8 properties.With relatively good rehabs, I’m not looking to be a "slumlord"—I want to provide quality housing for tenants while also ensuring my investment is successful.I’ve heard mixed reviews about Section 8 tenants, but I’m eager to learn more.

I also like to be set higher than most of my competition because I only buy really cool properties that are sought after.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Also, people who are motivated to sell quickly may find there are buyers who want to buy quickly, and at a discount.