Plus how did he go there he must live there or close so your only working one market.

Years ago I bought houses for $25k in my market.

Just be sure to account for the upfront costs, ongoing maintenance, and market demand to make sure the numbers work for you.Good luck with your decision, and feel free to share updates as you move forward!

Glad to hear the website postings can be a legit source for a deal.

Just as bad as the posts you see from time to time of the grandchild wanting to work out creative financing to buy their grandparents house below fair market value.  

Try networking locally with HML's who know the market. 

Lenders do not look at your personal income or debt and will use the current market rent or lease (up to 120% if the lease is significantly higher than market rent or vice versa) as qualifying income.

I used to think that cold calling was the only way to get off-market deals.

I see off market properties weekly, talk to investors both new and seasoned daily and I am actively buying myself.

Leverage your W-2 income for better loan terms, explore private/hard money for off-market deals, and network with investors to expand your deal flow.Good luck!