can you relly buy homes for pennies on the dollar? is it easy or rare to do?

Answer 1

Bob got it right - yes, you really can (although it is indeed rare) but you really don't want to - those homes are "garbage homes" - the amount of work necessary (price and labor) make them totally unfeasible as invest homes (either to rent or flip) and you would not want to live there. You'd very rarely get your investment back let alone turn a profit. Some people I know have gone this route and they did make a hit or two, but for the most part they lost their shirts. The people selling "lists" of these places make the most profit.

Answer 2

Almost impossible, what is possible, you don't want to own.