With the economy the way it is it is easy to find foreclosured property. Here is a website that lists many of the foreclosed properties in North Carolina: http://www.holden-beach-nc-real-estate.com/foreclosures.html

There are a few benefits of buying a foreclosed home. Foreclosed homes are generally cheaper than non-foreclosed homes. One can also negotiated for a better deal with a foreclosed home because banks want to sell the home quickly.

If it is foreclosed then he does not own it.

You cannot rent a property that you do not own.

Foreclosed - 2013 was released on:

USA: 12 February 2013

Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.