Purchasing foreclosed homes in desirable areas at below-market values can be a sound investment strategy. Appreciation on their original prices may be tax-free.  Buying foreclosed rental properties can provide positive cash flow, as well as valuable tax deductions. On the other hand, buying a foreclosure involves homework, patience, and a certain amount of luck. For those wishing to get a bargain house through the foreclosure process, it’s best to learn the basics…(read the full article here)