There is likely not enough meat on the bone for them to go to court. 

The key for me at the time was cash flow as opposed to appreciation. 

Turnkey made sense post 2008 when even factoring in profit for the turnkey company there was enough meat on the bone left for an investor.

Wholesaling will work if you know how to run the numbers and also requires a lot of work to find the deals that leave enough meat on the bone for the end investor as well.

Do you meet me at the property to show me the major issues or do I just get a report?

Text me at 555-111-2222 with your full name and we will coordinate a time.Please do not schedule a showing unless you can verify you make a combined income of $XXXX.This property WILL NOT accept animals.

It seems like banks aren't a good idea for real estate investing purposes for me - at least on this deal. 

Any turnkey investor should ask very probing questions of the turnkey provider regarding the condition of all mechanicals, roof and windows prior to entering into a deal.

You can email me at [email protected] regards,Landlord 

Also of importance is that the seller passed on the security deposits of current tenants to me at closing.I know that in Florida once a contract is executed any damages that occur to the property before closing are the responsibility of the buyer and this is why we buy insurance during this period.