Originally Posted by MaLayLaH

Certain properties in my area can be purchased very cheap when dealing in forclosure.
My advice for you from personal experience would be to purchase the property as cheap as you possibly can. (Some properties can be as cheap as 40,000 in some areas because they want to sell fast) Put a fresh coat of paint onto the property, make it look more appealing to a buyer, call up a new real estate agent and put it back on the market for 5,000+. Start small, move your way up. The more work you put into making the property seem more appealing the more money you can squeeze out of it. Goodluck