I looked around and found lenders that will do a day out of foreclosure up to 50%LTV down to a 500 credit score but the loan amount minimum must be 300k.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Required good credit, adequate reserves, full doc commercial loan with a personal guarantee.  

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

LLC/ Corporation documentation (Must be a US based corporation or LLC) Most lenders may require a minimum credit score of 650 for this program if the borrower has US credit. 

Do you have an idea of the total tax credits?

Fast forward 20 years: I now have money in the bank, excellent credit, live modestly on my own, and run a business that’s doing well.Unfortunately, I wasn’t able to save much for retirement during most of my life.

Here is a recommendation I have for you as you begin to figure out what area you want to invest in.This website is a great reference point for figuring out what each area is like. https://www.areavibes.com/It gives you a total LIVABILITY score for each street and zip code & discusses crime rate, schoolsUse this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below FBest of luck and let me know if I can help answer any questions! 

I do direct booking through the Houfy website, taking credit card payment by Square. 

Thats your bonafides to being able to do future deals.As mentioned above, keep your credit perfect.