A list of foreclosed properties can be obtained from the VA, HUD, FHA or a bank near you.

Can you make a substantial profit by investing in home foreclosures?

Absolutely!

But you need to know what you are doing.  It is hard to make money on foreclosures that are in disrepair or are located in bad neighborhoods.  The best rule: If you wouldn't live in it, don't buy it.  

You will only be encouraging bad tenants or increasing the potential problems when you try to sell the property if you don't focus on buying properties in good areas.  There are always plenty of properties. 

Rogue Real Estate Investor provides what you will need to know so you can profit from VA, FHA, HUD and bank foreclosures.