Then you want to skip trace the owner via white pages premium, cold call and see if they want to sell. 

Skip the realtor’s. 

Either way, it’s dicier than buying a well maintained complex of the 60s.If you do buy post-78 you skip all of those LBP, asbestos, etc. issues.

@Les Jean-PierreIdeally, if they skipped or just didn’t pay and you evicted, you aren’t getting rent so it’s a loss.

Well, say he already skipped last month's electric bill, needs to make the car payment and hasn't shopped for groceries in over a week, right? 

If the business or rental space was physically part of the living area of your home, such as a spare room used as a bed-and-breakfast bedroom or attic space used as a home office, your business usage doesn’t affect your gain/loss calculations.

Funny story: "Vacant land for $1500" is literally the exact example I frequently use for when a first-time homebuyer asks when it might be prudent to skip title insurance, since I'm saying it would be incredibly foolish to skip it on their first home purchase, which is never $1500 vacant land if I'm involved in the transaction.

My advice skip single family or duplexes or anything near the water...

@Skip Reath send you message. 

You don't have to spend $500 on zillow or trulia leads, but liking up with a wholesaler who can skip trace and pass leads that want to send retail your way is invaluable.