These are the tough conversations with sellers you have to have when they let their parks and trailers deteriorate to the point of utter distress. 

It is that rationale that has guided my thoughts on what I think is and will continue to happen with multifamily.Specifically, I think for most distressed properties, the banks are actually going to hold the property.

I know I would dump that into distressed properties and start swinging a hammer!

We have a possible distressed property so timing is tight. 

The only reason that you can get a distressed property under market value is because it is a mess that the owner and pretty much 99% of the population either don't want to or can't clean up.

First, doubling NOI is not an easy task unless the property you bought was VERY distressed or you're going to hold it for 15 years.Second, this idea ignores the fact that cap rates fluctuate.

the market is such that the only way to make money is to find something distressed. 

I’m really focused on getting all of my ducks in a row before I pull the trigger on my first deal…mostly looking for distressed properties that I can pay cash for to begin with.  

When you wholesale and in general the key to being a great real estate investor is being able to find great deals and distressed properties is where to look: financial dirstress being in preforeclosure or underwater on their mortgage, personal distress death in family, loss of a job, or divorce, or poor property condition.

You're probably going to have the most distressed sellers in Dekalb, Clayton, and Fulton (ITP and SW) as they are densely populated.