I recently gave a 1970's tract house a mini kitchen face lift with General Finishes Java Gel Stain.

It's actually Fannie Mae, not FHA. 3% or 5% down depending on census tract and income, owner occupied interest rate pricing applies (which is AWESOME).

In another case, through a series of errors on the part of sellers and buyers, as well as taxing authorities, two chains of title were developed for a single tract of vacant land. 

If you have a gift for words and communication then you can make it easier for them to digest. 

And of course speculating on land in the path of progress is not a  cash flow play but can have some very big upside.. so one could round out their portfolio buy buying a few of each asset class.One of my best investments ever was a 4 acre tract in Wine country Sonoma county city of Rohnert park.. it was on the edge of the city limits.. but it was cheap I paid under 30k for it in 1994 paid cash... and just paid the 300 a year in tax's all these years. 

Also how could you write a co tract without an address/legal description.

Still accumulation, processing and digesting.

It takes time for a seller to digest, then they are primed for a different offer. 

A big contributor to this in my area is due to the slowdown in the big tract home communities where they are building hundreds of homes at a time.

Once the pent up demand is spent, I expect to see a dip followed by a steady recovery as the economy digests the true fallout from this crisis.