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I would personally rule that out due to the length of the commute alone, ignoring weather and other factors. Mapquest gives driving time as 55 minutes-but that's without traffic. Real world times of up to two hours each way probably isn't unreasonable. At the very least, drive the commute...

Well, it's been about four weeks since I've posted this thread, and I see no flood of properties in my area-quite the contrary, in fact-supply is microscopic. Oh well.

Here's a rebuttal to the New York Times piece by the Village Voice: <a href="http://blogs.villagevoice.com/runninscared/archives/2009/08/the_times_picks.php">Link</a> Basically, their argument is that Moreno Valley is such a dump that it's a bad example to use to describe the housing...

From the listing: "Please note that the square footage on the tax role is incorrect - this property had an addition and has an appraisal measurement of 3495." I wonder if the addition was properly permitted. Now, it's completely possible for an addition to have permits from the city...

Maybe choice 1 is it then. That is completely possible, I suppose. Seems weird, though-why would ajoining counties in the same state have such a difference in the way REOs are handled? In any case, I give up, you are right, I'm wrong. This will be my last post in this thread.

If the remodel is that extensive and unpermitted, no way you get a FHA/VA loan. You might have trouble getting a conventional loan. Even ignoring that, you probably don't want to buy that house. If they didn't get a permit, especially for something that extensive, the workmanship might be...