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Ok. then i wasted words -- misunderstood.
Anyway that is the way we did it. Also buying HUD nightmares. We once bought a house with a collapsed roof for $3K from HUD.
Run an ad on craigslist (free) that you want to buy distressed rental properties.
We bought 18 units cheap that way 5X gross as I recall (that was years ago) --- went there after the Sheriff evicted everyone, with guns in hand, and changed all of the locks. Took some time to clean the shit out of the bathtubs, rehab and re-rent to new tenants.
Building stabilized with paying tenants -- we sold that building at a nice profit.
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