They're great income producers, you can live and manage on-site in one unit, and they'll (probably) get you experience dealing with other investors when you're acquiring it.

I just moved to the US last year and am a property virgin here.I looked at a foreclosure a couple of months ago and met a realtor there who got me to sign what I know now as an `exclusive buyers contract`, no excuse as i`m a reasonably intelligent adult but he said it was a `no obligation` form and just a matter of normal procedure here and that I could walk away at any time...fast forward a few days and an email copy of what i signed was sent to me...looks like i`m on the hook for 6 months!

Assuming there is no notice of sale (I don't know Texas procedures) you should have time for a short sale, assuming the property is under water.  

@Nat Chanbe careful with judgements and liens as they are only properly extinguished if proper court procedure is followed prior to the foreclosure sale. 

@James Wise These are income producing timber and farm lands.

These reasons lead most commercial properties to be priced largely on the cap rate produced.

Run both options to get your income property to produce income again.

I would start by building relationships with the top producing agents in your office and advertising their listings such as sitting open houses, door knocking neighbors, direct mail, social media or email.

On the other hand, the bills produced by those meters on units with leaks became quite a problem with the tenants ($1,000 water bill for one month because of a leaky toilet?)

Currently there is a furnace in the middle of the floor plan with no real way to run duct work, and takes up a fair amount of room.What people are talking about is if the air temp reached -20 or colder, the units can no longer produce heat.