I checked to see if the school districts had recently changed.

We're now in a psuedo foever home in a nice neighborhood and school district. 

I worked for the private lender for about 2.5 years, then transitioned to the conventional side, and then eventually out of the mortgage process altogether after I got a job post-grad school. 

Micah and I have known each other since high school and have always talked about investing in real estate together.

If you find a good working area with good schools, that is the place to be.

Is anyone up to speed on this and willing to school me for 5 minutes or so on what these foreclosures even are and generally how they work?

So if a borrower needs to move due to a change in employment, closer to school, closer to work, move into a bigger home GLA due to growing family, move into a smaller home GLA due to retirement or handicap, or simply moving out of state.If what you were saying was correct that would mean a borrower/buyer could not move out of state and buy a new home if they purchased an FHA home 6 months ago?

Good schools, low crime, strong median income, signs of market growth.

It's an older apartment building, in a nice part of town, good school districts.

The schools in the area are currently some of the best in the state in a nice suburb.