Most properties I inspect that are in foreclosure have greater problems:
1. Usually the utilities have been off a long time, thus no A/C and lots of mold.
2. Also, the sink p-traps dry out so it smells like a sewer.
3. The evicted owners vandalize the property removing anything of value: lights, thermostats, faucets, grills, smoke detectors, doors, built in appliances.
4. Lawns left unattended may require entire replacement to deal with weeds.
5. Often a window or door is left open allowing rodents to enter and take hold.
While a sales price might be cheap, the cost to make the property right can be very expensive and time consuming.