I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

We mostly buy off market now but I remember that is actually how I started investing, by flipping foreclosures. 

Showing off my data will only give people the wrong impression.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Both on and off market - agents /owner occupants, local wholesalers/ investors, out of state wholesalers/ investors. 

Quote from @Jonathan Weinberger: Hey BP community, Every so often I enjoy writing about my investing experience here.

I'd speak with your accountant about the potential tax consequences.

@Felicia NituIn addition if you actually want to realize that value, you need to count another 5% for selling costs, and the taxes from the sale.Assuming a 20% capital gains tax, your total ROI on the above scenario would be about 12%, even with the numbers you were using. 

Being willing to live in a property that needs work is a big plus for someone just starting out who has the insight not to bite off more than they can chew.