starting a real estate business through foreclosed properties

[sweet_mayhem]

anyone here who knows someone who started with their real estate business by purchasing a foreclosed property?  did they buy and sell, buy and rent it out or buy and marketed it as rent-to-own?  how did the whole process go? 

right now i don't have YET the capital to buy  foreclosed properties, but as early as now i'm making my plans as to what to do.  i figured that since i want to have several properties (which i plan to hold on to for future passive income by leasing them out), i should start first by buying ONE foreclosed property, selling it, then rolling over the money to another foreclosed property which i would buy and sell again.  i plan to do this until i have enough money to buy several foreclosed properties which i could finally hold on to by renting them out for as long as i want to.  what do you think about this?