Renting in a building in foreclosure

What neighborhood is this in?

It means you may get heckled, and depending on the results of the foreclosure, you may not be offered a new lease by the new owners. Since it's in foreclosure (because somebody isn't paying the bills) the level of services may drop, and maintenance may be deferred, leading to increased mice, bugs, broken elevators, leaking roofs, safety issues, etc. etc. On the other hand, if the building generates a lot of income you may experience no problems, and the new owners may be dream landlords.

Depending on the level of 'heckling' you may have legal recourse.

Are we talking "heckling" (name-calling, insults, etc.)? Really? Or was another word intended?

Move. Life is too short to be involved with non-family who have financial difficulty. Even if you are getting a "bargain", there is a cost.