I'm skeptical but I'm willing to test the water to something small first.

Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

He would show up, realize he didn't like the view of the water tower half a block away and back out.- Getting under contract and then reducing the price because of findings is common, but major reductions are likely to tick off the seller unless you have strong justification.

Over a weekend during which my tenant was not home, the condo became flooded and water went through the flooring and flooded the office below.  

@Bijan SabbaghiYou don’t that’s the challenge - we pull data from several places as a note holder and for example and currently we see less than 20% actually going to foreclosure as most are ending in bankruptcy right now due to borrowers equityThe ones that are under water are typically going back to the bank.Best bet is to find properties where deceased or maybe divorced to get higher chance of actually going to foreclosure

You may need to lower the rent you are asking for by a bit, but it is way better to have a tenant using less water because they're the ones paying for it, than having them run the water for hours since they aren't the ones paying for it.

Welcome to TN, the water is warm. 

I have yet to see code violations, water shut offs, and fire damaged properties. 

@Gavin Wynn In my market it is common for the landlord to pay for the heat and almost always the water.

With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few.