But don't worry, you could still find PLENTY of distressed properties under $100k in Waco.

Quote from @Nevin Wilkie: I just completed my first rehab on a distressed property I have bought.

We don't have the money to put down a cash offer and are assuming that a bank won't want to provide a mortgage on a distressed property.

So, I decided to drive a nearby neighborhood close to my residence, recently and document addresses of seemingly vacant distressed properties.

I am new to real estate and I would love to hear your favorite strategies for finding distressed properties. 

I get asked to look at abandoned/distressed properties all the time.

These sellers are not motivated by distress, but if a seller does engage and declines to pay the commission, will the representation agreement suffice to secure compensation, or will we still need to execute the compensation disclosures?

Auction Sites or Distressed Property Listings: Sites like Auction.com or Hubzu sometimes list properties that need work but are in decent locations and within budget.Given your experience with renovations and your budget, exploring these options might get you closer to what you're looking for without having to compromise on property age or potential renovation challenges.

I am having trouble finding distressed properties with enough "meat on the bones" to make enough money on the deal.  

you will most likely just lose money.to make this work, you'd have to buy something distressed, rehab it, and then refinance so all the short-term funds - HELOC, c/c transfer, etc. - were paid back.