Anybody have any advice on finding and/or purchasing foreclosed homes? Is it really possible to get bargains?

I've been wondering the same thing Will! I have found several bank owned homes up here in Ohio, and I really would like to try rehabing one. But I am on the same fence as you. I am not sure if it is really a good idea. I am quite handy and know that I could do almost all the work on it, but there would still be lots of money to put into it. I do know there are a lot of people who are successful at doing it. My brother has purchased two homes that were bank owned and he came out on top. In fact, check out Earl Ave on my profile, it is the second house that he bought and he really did a good job fixing it up.