I suspect that you'll have better luck with a local bank or private money, though it likely will still be challenging. 

Don't give up the pursuit.Fail fast works better in software than in real estate: reset the server, push a patch, etc. 

You might be able to afford a "better" property then.If you invest somewhere else in a vacation rental for example, you might also discover another place that you might like for retirement as well that might be more profitable.

Is this book worth my time or am I better off going another direction?

Would this be better to try and go through a local bank or is there good options for private money or other banks that specialize in this?

Preforeclosure is better...

This implies residential units can be built at lower costs and provide better return than building a single ADU.11) adding an ADU to SFH can make the SFH fall under rent control.

Asking in the correct forum will get a better response.Read the RULES!

But I would urge planners to consider that the Sec 263 regs they rely upon for the justification for not expensing remodeling costs is actually an exclusion section which prohibits deductions under pspecified circumstances that being that the amount was: "paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate."

The government has tried it with section 8 and rent control in some cities , we all know the end result .You would be better off starting a jobs program teaching the trades , educating them on finances and work ethic and then rebuilding abandoned properties for them to buy