First question, how do I find expired domain names or those ready to expire? It would be great if some of these expired domains have a very good name.

Second, how must does it cost to purchase a expired domain name? Example: Say Yahoo.com expired a week ago. I decided to purchase it- how much would it cost me?

try ebay

if the domain is expired you can register it as a normal domain. try http://www.totalurl.com for cheap domain registration

there are tools like "Expired Domain Sleuth" to find expired domains

i think you might be refering to backordering domains, "Back ordering a domain name means that you pay for the domain name upfront, and once that domain name expires and it's placed back into the public domain pool, it's very possible the back ordering service will get that domain for you." try services like godaddy.com, pool.com

To find expired domain names the best way is to use an expired domain name drop catcher. The big ones are:

http://www.namejet.com/

http://www.snapnames.com/

http://www.pool.com/

http://www.afternic.com/

https://www.tdnam.com/trpHome.aspx

Each site has different terms and conditions for the purchase of expired names so be sure to read.

Prices vary depending on a variety of factors.

Lists are available at snapnames, pool, you can backorder them also. From http://do7.info