(sending letters is the simplest) I'd recommend starting in neighbourhoods where there is "rental income" potential and also has an older housing stock that's good for fix and flips.To build a cash buyers list:-when you have a deal post it on kijiji, craigslist or any other site where you can advertise private deals.

@Shawn Holsapple you've given the simplest method I've seen regarding wholesaling HUD homes.

Others covered this, but I will put it in the simplest terms. 

The simplest thing to do is tell tenants that they can't have an AC unit, or that the heat can't go above 70.Yes, it's kind of harsh, but it is what it is.

The simplest way to purchase that property would be with a new mortgage.  

What is the simplest and most cost-effective approach to asset protection for this property?

My old lender got bought out and the new lender paid property taxes for one property that they weren't escrow ingredients for.

Option 4 is the simplest as bank lending is a real hassle these days with the regulation burden. 

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

This sounds like easiest and simplest way..