Instead/as well, do you know how to find, and fix, distressed properties?

In every major city I've seen there are areas that were once the best places to live and over time have become distressed areas.

-------------------------------------------------------------------------------------------------------------------------------------------------------------------The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had X company handling the management and renovations since.

It may be a distressed property or some other "must sell" situation where the seller's needs are best served by it.It's not necessarily a "use it anywhere" strategy.For example, you might use it to prevent a foreclosure - bring the payments current and make the payments going forward in return for them conveying title to you or your entity.

Not enough money in it for a property management company to deal with all the risks & headaches involved in a property in such a distressed area.

The goal of this partnership is to purchase distressed properties and fix them up  for buy and hold purposes.

Sometimes buyers purchase a distressed situation at a good deal and consider it a transactional cost.

There are also areas of the country you can bank on appreciation and rent growth even if you do no improvements and the property isn't distressed.

It is a distressed sale with NO existing mortgage.

That way you can buy houses from distressed homeowners (wholesaling) and sell the homes in good condition for a nice commission.