If yes, let it lapse past the one year mark.

I have been watching the markets for the past year or so looking for a property that I can use the BRRRR method on, but what I have been seeing is that the homes that require work are selling for WAY more than they should in their condition.

Quickly addressing some of the comments posting articles about Pace from 2009, I can’t speak to past or pending litigation.

The challenge when renting directly to the government is that they expect below market rents.From what I've read in the past, most institutional investors look at these leases like US Treasury Bonds (extremely low risk) and expect a similar rate of return as bonds.Keep this in mind while you try to negotiate a rent increase.

My spouse and I have bought and sold over 20 properties in the Atlanta area over the past 35 years.

It would be good to get an update since some time has past.

Credit - Ofc, the better shape your credit is in the better the terms.Overall, max is usually 25% and min is usually 10% being most aggressive.Talk with a few different lenders and brokers to see different people's requirements.

I'm just not sure exactly where to start or find properties, or how to go about the first few steps past saving for a downpayment.

@Jesse Dominguez-Castelan You should also explore one of the quickest options to this situation - reach out to the seller financing provider and see if he'll extend the balloon a few more years.I did this in the past when my 5 year balloon was about up, it was a simple email checking if he was happy with the arrangement and would extend an additional 3 years. 

This has become more common place over the past few years.