Cash for Keys as an Investor

[James Dietter]

Hello fellow investors and real estate professionals!

I am curious if anyone has experience with offering cash for keys as an investor.

I am interested in purchasing a house that is very far along in the foreclosure process. I was thinking of offering the occupant $10,000 in the event that I purchase the house down the road.

Any tips/tricks/experiences/caveats?

Any form letters? What's worked for you?

Thanks for the help.