So you have bad financial terms working against you along with finding properties, making deals, getting financing etc Secondly - for me it's time consuming.

But I find that most people want to invest in areas that are solid and that don't have bad tenant quality.

not bad but at 96.5% FHA you can purchase $1M OO in your local market. 

Or are you actually talking to a bank about buying the note so you can see the notes and credit on the owner of the property?

(This assumes you have a credit card available to pay for any repairs.).

Just make sure it is not deep in the ghetto, as there is a lot of bad areas in Cleveland.

If convicted of bank fraud you may be facing large fines of up to $1,000,000 and/or imprisonment of up to thirty years.Posted without comment.Okay, so one comment:Just because someone in your community says it's okay to do, better clear it with the feds first, or you may be talking with them later..This reminds me of a Subto in California that went bad and wasn't handled correctly. 

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

This can also bolster your case if the tenants continue to act in bad faith.

Then what happens is the lender reports your payment history to the credit bureaus and each time hereafter if you ask for another loan and the lender pulls your credit then they are going to see your payment history and whether you made your loan payments or not which will likely influence whether or not they lend you money.