But "it didn't redeem and he got tired of paying the tax bill and cutting the grass so he let it go". 

Sellers won't list because they have 3% mortgages and won't want to trade those, or won't be willing to have to absorb price cuts so they'll be knocked out.

You cannot cut locks, you cannot take possession, you cannot set foot on the property, you cannot make any improvements.

The nun's explained that they proposed the advance payment to cut down on the work of their AP department, simplify their finances, as they would be renting a number of rentals, and having the AP department prepare checks monthly would overwhelm them.

With cutting edge software.

Furnishing a place is also death by 1000 cuts.

@Blaise Peterson from a PMC point of view:If the property is vacant, we'd just terminate the contract, because there's nothing really to manage and we don't just want to be used cut the grass.If tenant-occupied, there's a host of liability issues for a PMC if owner hires another agent to list for sale:1) Who knows what transgressions the Owner's agent will cause with the tenant while showing it, possibly resulting in the owner and the PMC getting sued.

In person cuts a lot of that out. 2.

This is really a great short-cut to analyzing deals, because I can easily look at the ARV spread (which you should seldom trust, by the way) and see if it is even feasible to make how much I want to make.  

After he was successful in being more profitable than his neighbours (one thing he's done well with is driving traffic to his direct booking sites to cut out the host sites that take so much in fees) he started taking on investors that put the 20% down for say a DSCR loan.