That being said it seems like nearly every property I've seen (duplexes) has had some or of neglect or another.  

To me 2 years isn't enough time for a tenant or their circumstances to have changed enough for me to think this would "never happen again".

Or am I misunderstand the circumstances in which this is allowed or not and how its done?

The tax circumstances between an IRA and personal funds are very different.  

Bill Gulley These lots are mostly in established neighborhoods and either left overs or tear downs from disaster or neglect. 

What were the circumstances on something like that? 

Beyond that everyone is different.Are stories and circumstances are super close! 

Bpers, I thought I'd share the results of an afternoon of driving for dollars...1) Located 25 distressed properties2) Various surrounding circumstances and conditions (code violations, foreclosures, "pretty and ugly houses"), etc.3) I have yet to research the properties to determine if investible.

I plan on calling the phone number on the sign but want to be more educated about the property and the circumstances surrounding it beforehand which leads me to my questions...How do you research and evaluate foreclosures?

It just depends on the circumstances.