Im trading 2 condos on a golf course ($185K equity) for 4 blue collar homes; heres why;$445 HOA means im converting -$55 cash flow on 300K condo balues for $860 cash flow on 560K value of the 4.

Particularly if the loan has changed hands several times and it's delinquent, they are traded at discounts so their cost base might be far less than total owing.  

I am in the New London area, I am an electrician by trade but also manage all of my own rentals in the area and I do have connections as far as agents and lawyers in New London County.

I always say a good way to judge someone in trades is by the work vehicle they have.

Trade labor for education. 

The free and clear equity, safety, and cash flow are benefits that you can trade with.

Time is a real cost, and you at least know what you are willing to trade off for it.

As soon as I traded into a much larger property, I had to hire a PM.

Very often they get the deer-in-the-headlights look when you start talking about seller financing, trades, wrap-arounds, simple interest terms, balloons, or what have you.

There are trade off to both.