It has been much more common to get a deep discount on the second mtg, since being underwater the bank realized that money is likely gone forever, so no harm in discounting it now.

I don't want to dive deep but want to start slow. 

Could you find a serious buyer with deep pockets looking for a great financed deal that could pay you a wholesale fee?

Not sure if a big bank or lender underwriting hundreds of loans would dig deep into who they are paying off. 

Last week there were two probate properties that sold off market for a deep discount that we missed by a matter of a week or so! 

@Nathan G. thanks. last night we deep cleaned the apt and management stated they would be coming to day for a initial inspection and first spray, if they find anything bad they'll be back. 

The needs of real estate investors are very different from the needs of "normal" insurance clients who just live in a house they own, and drive a few cars.PLEASE, for your sake and the local market as a whole, only work with insurance professionals who can demonstrate a deep and thorough understanding of your needs as a real estate investor. 

How deep down the rabbit hole are we on this one?

As @Caleb Heimsoth pointed out, next day service during the hot Summer months is excellent timing in the deep South.

Google that term and you can read about how it can help you.I own a couple properties in flood zones, no a show stopper for me but proceed with caution. obviously house should be discounted when sold if in the flood zone but if you can get it at a deep discount with potential of removing it that could be a home run!!