it was a foreclosure rescue of a 75 year old lady in poor health.. she wanted to live her life out in the home.I paid it off 80k and gave her a life estate.. she lived for 6 years.. by the time I took back over the house was beyond salvage I demod it subdivided it and am building 3 500k specs on it.. so my return on investment will be  well it will be more than 10% per annum by a long margin.. but I am thinkin I am in the business so I can find these kind of situations.. but how does a passive investor find them ?

The business model is rescue distressed buyers, rehab, place tenant/s, sell contract to new owner, all before the property officially changes hands. 

I did all of mine ( more than a 100 ) in the 90s and early 2000s  mine though were all foreclosure rescues last second.. and I only did it if there was at least 30% to 50% equity day one..

YUP some things cant be rescued  get your check ready and show up at the sherrifs auction and buy it. sometimes that is the only thing you can do in these situations.

As a matter of fact, countless veterans with PTSD have successfully trained (yes, even owner trained) pit bulls and other less "desirable" breeds to be their service dogs and even gone to the point of rescuing them from shelters.  

Can't you see he is trying to RESCUE someone in foreclosure???

Account Closed  curious does NY have the same foreclosure rescue laws as other states .. basically an anti equity stripping law?  

I spread the word I was looking for my car, the pilots flew a search and rescue practice mission and they found my car at a house in the country! 

Again my friends in the real estate industry came to the rescue.

@Marc Woodward nothing like a red hot market and a lack of inventory to the rescue.