I'm particularly interested in purchasing two-bedroom, one-bath (minimum) properties that offer space and potential for adding an extra bedroom and bathroom.

Renting for top dollar gets you less rent overall when the tenants turn over yearly and it takes you extra months to fill the vacancy!

It appraises for $250k so the investor (after all you can’t sell to an owner occupant, the buyer who would pay more than the investor.) has to bring 20-25% of the $250k plus all of the $50k extra.

The folks that live paycheck to paycheck will struggle in any economy.  

Paperwork to be signed is mailed back and forth and we only do our own lease as a formality and an extra chance to go in and check out the apartment to see if we need to fix something.

I could not get a straight answer from anybody at the City level, I got three different answers from three different folks within 10 minutes of each other via email.

Networking with local landowners and attending real estate meet-ups or county auctions sometimes, folks prefer a direct sale to an investor over listing with an agent.

@Ryan Delauz Good point on the extra fees...

So yes, I have seen folks sell a property as a business.

Happy to connect folks that are interested or serve as a resource.