I thought hard money lending would help me get started with my latest foreclosure purchase. 

., at the tax foreclosure auction.

I primarily deal with distressed assets, homeowners, pre foreclosure scenarios and investments.

This way, if your life goes south for some reason, it's fully available to draw upon and if you remain shiny-side-up, it grows until used for the intended purpose.My bride & I did a similar thing, purchased a foreclosure with the intent of it being the college fund, and ended up not needing to cash it in to pay for the kids college.I'm more in line with @Sastry Srini on this and a bit less so with @Mark Welp. 

I'm making an offer on a VA foreclosure (listed at $149,500), which has been on the market for 8 days. 

I'm looking to learn more about foreclosures and found that the Top 3 players (at least in California) seem to be Property Radar, RealtyTrac and Foreclosure.com (partnered with BiggerPockets?)

Curious as to how you know it's in foreclosure (versus probate) and how you know the bank is paying the taxes (versus the estate)?

There is usually some protections in place for owner occupieds on a deficiency judgment for forgiveness of the balance, but as far as I know, there is no flexibility for investors who short sale to eliminate that debt after closing.....except bankruptcy....which is WORSE because that stays on your credit for 10 years (even though you can purchase again in as little as 2 years).Foreclosure would be another way to eliminate the deficiency, but even then, depending on your state, and how they secured the debt, that isn't always a given either.No great options here. 

You can find these houses.Here is where you find them... go on Trulia/Zillow and find all the foreclosures/pre-foreclosures. 

I need input from those who have bought foreclosures and  have experience with VA.