Age of roof, boiler/furnace, hot water tank etc... will one side be vacant and ready for you or will you have to evict somebody?

Foreclosure leaves you subject to an underwater 1st lien. 

Cheaper than replacing plugs and switches.)2 - Sheetrock behind cooktop, around heater and hot water heater.3 - Egress (escape) windows in bedrooms.4 - Permit and inspection.If you buy 1980-new, no need to worry about this post. :-)Have fun!

What is a good way to find houses in a hot DFW market.We have 5 houses which we found by driving neighborhoods looking for foreclosure notices.Any advice

I would recommend a minimum of $7,500 for this house.Alternatively, you could just sell it "subject to" and get rid of it right now.

I find some of the more aggressive investors doing larger rehab projects are focusing their efforts on neighborhoods that are "hot" or up-and-coming.

I know the market is hot, but really?!

This is a very complex subject and an unpopular one for some so I won't go any further other than to say that you can't just look at a neighborhood in isolation. 

Florida Palm Beach CountyA friend and I are buying junior lien foreclosures taking the property subject to the existing mortgage, what are the strategies in dealing with the mortgage assuming the property is not upside down and we do not have owner cooperation.Best regards,-John 

Douglas,  try picking a topic of interest like, single family home rentals, wholesaling, becoming a real estate agent or buying real estate with no money down, and learn all you can on that one subject.