I'd say it all depends on your timeline and personal risk/reward ratio.

It all depends on your goals.

. $150/sqft... if you want something with "ehhh" finishes then you can probably get down to like 100-125/sqft depending obviously on how much work you give your guys and what kind of relationship you have with them.

Definitely depends on the area and the how much maintenance the house will need while being rented.

With this same property and an estimated rent at $1000 a month here are the numbers:Mortgage $485 (75k at 4.75 for 20 year amortization)Taxes $100 (This is a guess because I have no idea what they would be in your properties area)Insurance $50 (This is also a guess but I am basing it off of my own rentals)Property management at 10% $100 (This depends on if you will be managing it yourself or not)Capital expenses savings for repairs 10% $100Vacancy 10% $100Monthly cash flow = $65 (6% APR rate of return on your 13k left in the property).Now there are several variables in this example.  

I hear lots of year plus, so it probably depends on the lender and that's something you can ask around.Not at all, IMO.

Depending on what kind of loan you had in place at the time the foreclosure was recorded.

@Yvette Allen,  I reckon it largely depends on your long term goals, and your negotiating ability, as to whether it'd be a win-win at least as much for you as for your Buyer.

So if they don't exercise the option then I may need to put in a couple thousand dollars to do some repairs and such and it may stay vacant for a month or two, but then when I  put in another person that wants to purchase the house I collect another option fee of $3900 upwards of $10,000 depending on the property.

I would just be careful and only use a credit card depending on what your intention is.