[fireant911]

My wife and I, after utilizing a very disciplined approach, paid off our current home in 3 years and 4 months - I have loved the aspect of not being in debt since then. During the work/school week we live in two different cities - me in Jacksonville and my wife in Birmingham. This arrangement is due to her being in medical school at UAB. We have been renting a 'cottage' in B'ham for the past two years but my wife will be transferring to Huntsville in April for her clinical rotations. Rather than renting a place we are considering purchasing another home - I will continue to reside in our Jacksonville home. Today, we spent 8-1/2 hours driving around that area and found some attractive properties. The one's that captivated us the most were two foreclosed homes. My question is does anyone have any experience buying foreclosed properties? What questions should we be asking (that one would not be asking during a normal purchase)? What sort of access to capital is required for such as transaction? Any help from experienced parties would be extremely beneficial!