It took some work after my foreclosure, but it can certainly be done. 

Me and a friend of mine wanted to get into a 4 unit off a pre-foreclosure in New Haven, CT.

I do plan on going to the court house and getting info on foreclosures and probate.Matt

NJ perhaps additionally risky as pretty big on foreclosures - holding the #1 spot nationwide for a few years now.

This means you will have to bid for it at a foreclosure auction.

I bought a foreclosure with cash, and would renovate and rent out.

But if you jump in completely unprepared, you're setting yourself up for failure (and even worse, foreclosure)

With the difference between a property's sales price and the amount of its encumbrances being equity, eyebrows start to raise with so much as the appearance of skimming and/or other shenanigans, which the 2008 fallout brought us in the form of foreclosure prevention acts protecting homeowners against...operators with less integrity than others. :)Regularly seeing wholesalers ask close to if not retail values for property, and/or other shenanigans, like advertising sub-to terms, a violation of the due-on-sale clause seen in most if not all mortgages, even the sale of property, considered licensee activity, when all they have is equitable interest in said property, at best.

The 1031 idea is good, but cash gives you a little more flexibility in terms of timing,value, or foreclosure auctions etc.

No offence, the BiggerPockets hosts are amazing and simplify things and are so motivating, but NONE of it applies to Canada (well thats my impression anyway) - foreclosures, buying under market value properties, underwater mortgages, even to some extent wholesaling, etc, aren't really things in Canada. ( I mean sure, there are properties out there that are in distress dont get me wrong, but I feel like even those properties are going to 500,000 lately!