Quote from @Patrick Paige: @Allen Duan Has a great point that I fully agree with (look at from tenant's perspective).

Chalk these losses up to tuition.I agree that we are not likely to see any return of principal.

I think you can through BP or through the aforementioned REI meet ups more than likely.i am inclined to agree with a previous poster in that i'm not sure driving for dollars will necessarily yield you what you are looking for.Network with as many other MF investors as possible in your area and find an agent that knows the market and can at the very least set you up on an MLS search for your criteria.Coupled with BP's deal analysis calculator you can then begin underwriting properties you receive from the MLS with your agent or on your own to better understand your market and tailor your expectations moving forward.I'm an investor focused agent that focuses on MF and while we are not in the same market if you have any questions about moving forward with MF LTRs i'd love to see how i could help.

I absolutely agree with @David Krulac.

They ain’t done appraisal or nothing this would be our first time going to court  I agree with Sherry.

I've spent the last 3 years nagging the city to sell me a lot next to my property so I can install a driveway and they've finally agreed.

I use pricelabs and agree that Airbnb’s interests are with the customer not the host.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

You can legally change or cancel a contract if all parties agree. 

I completely agree with @Ashish Acharya's points about the cost-effectiveness of a HELOC and the potential credit implications if it’s secured by your primary residence.