I've done multiple BRRRRs myself and tend to find the best opportunities in C, C+, and B- neighborhoods where the inventory of distressed homes is still there. 

But Dylan, knowing how fast-paced the real estate world can be, answered.It was a distressed seller desperate to sell their home immediately.

I have flipped distressed MF before.

There seems to be a misnomer around that agents don't work with distressed properties and that couldn't be further from the truth.

It's a good way to marry rehabbing distressed real estate equity capture with long term note income for retirement accounts for those that are interested.

Distressed property but did not need major renovations How did you find this deal and how did you negotiate it?

That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day.

Those who thrive on this are able to:  Buy low priced distressed properties    /   Purchase properties with manageable capital requirements

But would I tell a person I don't know to find and buy a severely distressed property, take out a hard money loan to buy it, perform a monster rehab, and then refinance and hope for the best? 

This is a great market for buying distressed/foreclosed multifamily at auction.