You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.

The only creative way I can see (obviously not knowing enough details) is an owner carry with you as the operator and a JV partner as the financial backing.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

Please post more details once you meet, and good luck!

Where do you find details on prices, demand, cash flow etc? 

Are their listings detailed with good quality photos?

@Brian King What about something like this for a fix/flip in Smoketown: https://www.realtor.com/realestateandhomes-detail/822-S-Hanc...

Everyone in here seems to keep asking for someone that has done it, here is a video of someone that did get the check!

Quote from @Jonathan Greene: Quote from @Jamie Parker: Quote from @Jonathan Greene: Those are video game calculations.