Id contend, and Im curious to know what @Ned Carey thinks of this, that the biggest challenge is the municipal risk involved in Baltimore, with a local government that is largely anti-landlord, and a city constantly on the verge of bankruptcy. 

many other things lower the value as well: history of filing bankruptcy, overdue taxes, poor condition of the house, rural location, problems with title, liens, a long list of other things.    

I think there are great deals out there because of the 'retail apocalypse' theme in the media that ignores the subtlety that physical sales are still necessary in a lot of cases.But that does not help you much because you need to do a lot of work in that area to find good investments because many of them are terrible and will go dark/declare bankruptcy.

If there is equity in a property and borrower has trouble they file bankruptcy.

You will have to wait till hotels go into bankruptcies if you want to find a good deal right now.  

That is a question for a real estate attorney, or ask the listing broker to clarify if the CCR's state that and if there is any way around that (sale, bankruptcy, etc...).I recently consulted for a client on a property in a similar situation (shadow building of a larger center) and was able to bring in  3rd party management, was a new center and they gave us the option to have them manage or bring in our own management.

So we had our chapter 7 bankruptcy discharged July 12th 2018.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

Is a preforeclosure better than a foreclosure or bankruptcy? 

Their rent history shows no evictions, pay on time and no bankruptcy..