I don't carry my birth certificate with me when I travel, and when I travel within the U.S., I don't carry my passport.If I were to be stopped in AZ, they could throw me in jail because I couldn't produce my birth certificate or passport.That seems a bit unconstitutional to me...

If you're concerned the economy in the US is headed for a complete meltdown, then stock up on water, food and ammo.I don't think anyone would care about precious metals, stock certificates, real estate, or stacks of cash - what they will care about is food, water, shelter and protection.A few bottles of water and cans of food would be powerful bartering items.

I found out one of them is in a flood zone and I don't buy if it requires flood insurance.In an earlier post you mentioned financing this purchase; most lenders will require flood zone certification before underwriting the loan, and if in the flood zone they will require flood insurance.As to whether something is a good deal or not, we can only say that the numbers make this worth taking a deeper look.  

While I can't tell you how Fannie handles foreclosures, I know that HUD multifamily foreclosures come with a long list of conditions as I receive their listings.I would suspect the two agencies are fairly similar in nature with regards how they vet buyers.HUD has a 63 page booklet explaining how to bid on their foreclosed properties and it is full of language about how they can keep your earnest money deposit if YOU don't meet their standards.My gut tells me FM won't be all that different, but no doubt you can find all the details directly from them.

(All teachers are required to take a certification course on child abuse).

Is it a FM?

Also the foreclosure process can be fast or very long depending on if the state has judicial or non-judicial foreclosure or both and any pre and post redemption rights for the borrower.You could look into tax liens or certificates for yearly yield and be hands off.

The only thing you won't get are the "certifications" which is basically just a way of telling prospective employers or people that you're training that you are equipped with the proper knowledge to be successful at selling and help others do the same.

If the owner does not pay his/her taxes, in June of the following year a tax certificate will be sold by the Tax Collector.

I'm waiting on the seller to provide a copy of the policy and elevation certificate.