The GC and the sub ended up sharing in the cost mostly (I think) because it was better than the finger pointing game that had already started, and realistically the attorney's were the only ones about to win...

If foreclosure is what you want to invest in get a head of the game and focus on a target area and know if that HOA is a pain to work with, you might just find someone who wants to sell quickly to get aways from the HOA.

There are a lot of rough areas here that look good on the internet but the reality on the ground is much different. 

Depending on the market, A game room can give you a similar ROI with much less liability. 

Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.

Some/many lenders don't like a 2nd mortgage behind their first (like the skin in the game), however there are both bridge or permanent financing options out there allowing you to leverage anywhere from 90% CLTV - 100% CLTV, but don't expect good terms...

I’m not in the game yet, but I’ve been diving into this to prepare for my first multi-family deal.

And do you think you're the only game in town?

Even large and small businesses with intangible residual services like TV, internet, security, pest control or the local contractor with remodels in process could fall behind on payments revenue contract. 

Congrats - you won the investment game!