I know he's got it priced high and when I asked how he got that number, he just said he "knows someone will buy it for that price" I know the seller is in danger of foreclosure soon as well.The problem is this specific MHP had horrible management coupled with a natural disaster that hit the area a few years ago causing homeowners in the area to move away.

This was a common practice in 2008 when mortgages heading to foreclosure were sometimes sold for under 50 cents on the dollar. 

I buy bank foreclosures in my town. 

assuming a bidder get the HOA foreclosure he will likely end up under water?

I want to simply know if I should go after REO 3-4 Multifamily Properties in Connecticut or I shouldn't, is it a waste of time for me to go after them if I am looking for undermarket value prices multifamily houses in CT .......... is this true or false below:Just got off the phone with someone that told me in state of CT, banks who have REO's, don't have the inventory like before to let their properties sell at under market value prices anymore, and are repairing their own properties to get top dollar for them, so it is a waste of time to try to purchase them and rehab them to make money from them in the state of CT.If this is true, then if I want to still find undermarket value multifamily houses in state of CT to purchase with my VA Loan, should i be going for Foreclosure properties instead of REO properties, but won't the foreclosure sellers want cash buyers instead of someone like me who wants to use the VA LOAN to purchase my 1st multifamily property.

As a newbie to investing, I liked the below because neither were packed with a lot of techy terms - I like to keep it simple:Real Estate Tax Liens & Foreclosure DeedsDon SausaMaking Big Money Investing in Real Estate without Tenants, Banks or Rehab Projects Peter Conti & David Finkel

Hi Neeraj,To my newbie understanding, there are plenty of resources to find foreclosures including the marketplace here on BP, specialized websites such as realtors.com, multiple listings such as foreclosure.com. 

Performing NotesPays To Term Pays Off EarlySell The Full Note
Sell A Partial
Combine With Other Notes for a Mini Pool/Portfolio
Help Borrower Refinance
Restructure For Early Payoff
Incentivize For Early Payoff
Trade the Note
Hypothecate The Note
Non-Performing NotesPayer Reinstates
Work With Payer To Catch Up
Restructure Forbearance or Modification
Accept a Short Sale/Short Payoff
Cash For Keys & Deed in Lieu of Foreclosure
Sell as Non-Performing
Pursue Foreclosure
Homeowner Sells House and Pays Off
Sells At Foreclosure
Get Property At Foreclosure
Sell Property As-Is To Investor After Foreclosure
Fix and Flip After Foreclosure
Rent Property Out
Lease Property With Option To Buy
Sell With Owner FinancingWould love to hear what are your favorites?

In a very long time as a real estate broker I can say that I've never seen a Medicaid foreclosure, and I have specialized in default all this time. 

With the money we had left we also secured and purchased another duplex that was an reo foreclosure. 3 closings all done in the height of the Covid pandemic, it was very nerve racking, but we are very happy with the acquisitions.