Buying turnkey and adding small updates here and there has proven far more fruitful for myself and other buyers (unless you have too much cash lol). 

You own the domain name, the URL and all your SEO juice is attached to that domain name.

Low hanging REO fruit may be hard to find, but there are still people with problems paying mortgages and bills and we know this because unemployment is still high and confidence in the economy is stagnating if not declining.

LOL  Talk about passive aggressive.There have been long discussions on this and no fruit.

That could be low hanging fruit for a good designer

Most people just want to chase low-hanging fruit all day and find that ever-elusive motivated seller.

The low hanging fruit is gone.

I was networking a great deal when I first started and it has been fruitful to say the least.

The problem with that is that it's easy to blow through your savings sending out all of these letters, and then give up before your efforts starts to bear any fruit.  

If (and most people don't) you do the math for the risk and factor in the cost you should be worth for taking the risk and the number of total number of house you invest including the time it takes to find a property and then factor in flips you don't make a profit on and those you actually lose on there are many more fruitful things you should be doing with your money.Example?