Interested in buying foreclosure REO property, without cash down, what are my chances?

my house goes live Friday, I'm hopeful it gets an offer right away, as there aren't many houses for sale in my area, and nothing as cheap as mine is being listed for. I'm selling an old 1900s duplex I lived in for the past decade for 199.9, if I sell at asking, after tax and commissions I'm walking away with 125k profit. I am interested in the house selling a $224k, that says "These properties are currently listed for sale. They are owned by a bank or a lender who took ownership through foreclosure proceedings. These are also known as bank-owned or real estate owned (REO)." my realtor checked it out, doesn't say it requires a cash offer, and doesn't give any weird stipulations to buy. we have been trying to buy a house for the past year, and no luck, outbid every time. this one, is a little further out in the sticks, more like farm land area, I'm hoping people aren't looking as much in this particular area, but my dream is to list my house, get an offer, and then put an offer in on this farm house. what do you think my luck is? is there a chance? anything I should be weary of for this type of property? I've never looked at a foreclosure before, set up to go check it out on Sunday. things I should look out for? appreciate any insight you may have