Hello,Despite all of the warnings to only invest in landlord friendly states, there are massive investments made in cities like New York San Fran. etc. 

I started/continued cultivating about half dozen different commercial brokers, by taking incoming cold/warm calls from brokers for off market offers(calls I used to just hang up on) from their fund buyers and deep pocket private investors, and soon realized(as few of the brokers had warned) that off market deals for this asset are always gonna be low ball, no matter how premium my location.

Case in point: LA city... and most recently, in the dark of night without warning, Pomona.I know there will be some on this forum who may disagree and will have their personal stories of how to overcome it and work around it.

Sure, some absolutely have benefited, S.Korea is a fair example BUT, one can argue it would just be "Korea" today if only MacArthur wasn't planning a run for President there after and ignored Chinas warning and offer of peace to stop with all but total victory, instead pushing to Chinese border, pulling them into it and literally loosing the entire north....    

This shift warns of potential hardships if a recession leads to widespread unemployment. 

No matter if you try to help, if they can exploit you they often will.Like others have mentioned you need a license and even when you don't if something goes wrong, you could face lawsuits if you even smell like giving them official advice.My REAL advice however is this, and I hope you take this warning seriously.Let's talk about foreclosures for a second.According to data a few years ago (it is worse now) every 3000 mailers will get you 1 deal, which makes the chances of them wanting to sell their house 0.03%.This means 99.97% of the time, when you approach someone in foreclosure they are not interested in selling.So understand what you are factually doing...You are going through all this trouble to EXPLICITLY try to find people that do NOT want to sell their house (people in foreclosure), to try to get them to sell their house?

Some bipartisan congressional legislation, like the HOUSES Act, supports this effort by making portions of federal land available for residential development.While this approach has promise, experts warn that opening federal lands is only part of the solution.

Just be warned that it may not work the way you envision it.

(Tho, you’ve had time to make that reply by now, and have not, so you may not need this warning.

Many other have warned about HOA's...stay away from any neighborhood that doesn't have an HOA and isn't zoned specifically to be STR.