But would I tell a person I don't know to find and buy a severely distressed property, take out a hard money loan to buy it, perform a monster rehab, and then refinance and hope for the best? 

Ten years ago, there was almost zero code enforcement so you have a bunch of nonsense that you may not catch with pre-existing stuff and you may get hit with some monster issues down the road. 

Truck parking, RV Boat, etc. 

Can you imagine taking a couple days off work, looking for a new place, paying for new applications, putting down deposits, renting a moving truck, finding friends to help you move, paying to clean your old place, and so on to “Save” $300/yr? 

Like small enough to be 100% prefab offsite and then trucked in. 

BTW, deal with banks directly ALL THE TIME.The monster behind the curtain here is you sort of implied you made a deal with the borrower, which you then did not need to follow through with.

You'd be amazed at what a toy truck can do.

Some high and lowlights:- I had one tenant that brought German cockroaches in and then blamed it on me- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people- another tenant having constant loud arguments with his gf- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm.

once this stuff gets on BP and its monster google search results IE goes to the top of the page its game over..

You can spend $5,000 and get your CDL to start driving trucks at a Dollar a Mile or $20 an Hour.