My question is, if this is not the best market to utilize that strategy, what strategies are you finding the most succuss with?   

I have extensive experience with SEC 8.

But really like others are saying to get affordable housing you need to utilize land/lands that already have infrastructure in place and systems that can handle the water and sewer and storm.. so density bonus's are what is needed .

This is why most properties are 'bought' with a lease-hold contract of x years + y years extension (mostly 25-30 years + 25-30years extension).Bali is an organized wild-west with a lot of opportunities, that's for sure.

Also, if you are buying a distressed property many times they cannot be inspected fully because utilities may not be turned on and you are fixing so many things already there isn't much risk in whatever they might find anyways. 5.

If you have to go through the utilities companies for city hook ups or gas or electric?

I have emailed the new agent representing the sellers the amendment for extension of close plus the manager at this real estate agent's office.

Most tax professionals do not advise their clients to utilize this approach and it may raise concerns under IRS examination.

Also COGO Capital offers a CDNA report for under $30.00 and these are pretty extensive.

Utilize the enemy method - like @Bradley Buxton said, take a look at your competition to see how yours compares and make adjustments accordingly