And he can purchase the property himself from the defaulting borrower, or purchase a (majority) ownership in the subject property.  

If FNMA, FNMA allows transfer of deed to LLC if mortgage originated after June 1, 2016 and original borrower owns a majority interest in the LLC and any 12 months of owner-occupancy is first met:https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Part-D-Providing-Solutions-to-a-Borrower/Subpart-D1-Assisting-the-Borrower-with-Property-Related/Chapter-D1-4-Transfers-of-Ownership/Section-D1-4-1-Information-Relating-to-Transfers-of-Owner/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer/1041300841/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer-09-09-2020.htm

Population is growing and the job market is strong (major employers developing like Intel, Amazon, Meta, etc.)

And it most likely will.There are some loan products available for low downpayment if you are willing to do a live and flip situation. 

I will say this short term sacrifice can lead to major long term gains.  

Great to see so many Canadians on here.I’ve been living in the US for a while, so I’m not too familiar with REI up north.Are there any major barriers to a Canadian investing in the US?

.- If the syndicator actually sues this member, we will make the litigation a headline issue in every major BiggerPockets content channel, including YouTube, Blog, Podcast, and these forums.

This can be a city or neighborhood.We manage a lot of Class C properties in the City of Detroit, so previous evictions are common.We typically do NOT allow within the last 3 years and we want to see stable employment, income and no other major credit issues since.For Class B rental we're looking for no evictions in last 5 years.Class A, would be at least 7 years.Of course, there are exceptions to all of the above for extenuating circumstances the applicant is willing to provide acceptable documentation for.

@Arlene Gil - If you didn't connect with Backflip, I'm happy to talk you through our products and processes! 

Columbus has become a major tech hub in the midwest with large companies like Intel investing $20 billion, Amazon investing $3.5 billion, Google building 2 new data centers: one in downtown Columbus and the other in right outside of U.S. 33 in Lancaster.I recommend working with an investor-friendly agent who focuses on cold-outreach methods like cold-calling, cold-texting, etc to bring you off-market deals.