Hi Jeff
Almost all banks and mortgage companies have a relationship with a real estate agent who gets all their REO listings. If it was an FHA loan on the property, it will be listed on the HUD foreclosure websites. It is not impossible, but harder to buy houses directly from the banks/mortgage company anymore. You are forced to go through the middle person.
When a bank or mortgage company has a LOT of foreclosed properties on the books, they will sometimes sell several $1,000,000 +++ of them as a package deal – these are usually snapped up by hedge funds who cherry pick the best them dump the rest.
It is always always better to get to a property when you can deal with the owner directly and avoid banks, real estate agents, and competition at auctions or with hedge funds.
All fire damage properties are posted as a Code Violation. So you can get the Code Violation list – or just follow the daily police reports for fires – to learn about these properties much earlier in the process.