I also had issues with tenants that came with my first purchase - another reminder of how important it is to screen before you let someone in.  

I would suggest going to the courthouse and viewing the tax deed auctions to start. 

Consider if from the wholesaler's point of view.  

My main concern is how much it is going to cost to repair foundation and also the fact that I am not able to view the finished basement because it is an occupied bank foreclosure.I still have time to back out of the deal.

This is because of strict screening.

Hello everyone, i'm really eager to do my first flip, but my only problem is i don't have all that money to use, was wanting to see if anyone could give me a view pointers on how i could get the money to fro my first flip. thank you I'm from California 

Consult a local attorney for a more thorough analysis of your case for a narrow view of any local exceptions that apply in your particular case.

Not only from a practical point of view, which is all that really matters, but the FARBAR gives the seller an out if they can't deliver clear title, which they can't.  

Tip: midgrade and durable wins the race unless you have a very high end rental in my view...

Expensive, it all depends on how you view it.