If you can purchase  a multi unit residence with an occupancy rate of 75% or less (as an example) and reposition the property by removing problem tenants and replacing them with quality tenants,  upgrading the property strategically, increase the occupancy rate to 95% and increase the rents to fair market value or better, then you have a gold mine!  

Scour the listings and begin formulating a plan of what you are looking for and where you feel comfortable owning.

Johnathan.. what you also had and you may or may not know was the strategic foreclosures in NV CA and AZ.and the banks could not legally get deficiency judgments at least early on..

Unless I was planning to live in it one day or it was meeting some other very important strategic goal and I was paying all or a substantial amount in cash I'd pass.  

We’ve had some success in our local Bay Area market and we’re looking to expand operations into other strategic markets.We would like to develop some contacts and professional relationships with reputable wholesalers in the following markets:- Greater Sacramento area – we just opened up an office in Rocklin, CA.- Seattle/Tacoma area - business partner is from North Tacoma & travels back often.- Columbus, OH – I have family and friends in the area and travel there often.- Raleigh/Fayetteville, NC – we have 1 pending deal right now.If you operate in these markets or know of good ‘meet ups’ that we can attend while we are in the area, please send me a private message with your information and I will get back to you soon.Thanks and best of luck of your Real Estate deals!

With a project such as this, you may want to move quickly but strategically.

My vision is also to turn the worst street into the best and this property is strategic in this plan.So at the end of the day, its a win win for me, my buyer and the revitalization of North Adams.  

I'm good with waiting a while to do something, but wanting to plan next steps and be strategic. 

I would see if you have a friend/family member in the Midwest in an area you can buy a cheap deal and strategize with them to see a project through.

Then you can add value strategically, cash out and double your money in 2-3 years.