You can find them, but they are like a needle in the haystack not just throwing a dart at the MLS and putting in an offer. 

The hard part is finding that needle in the hay stack.

So you're seeking for a needle in the haystack

One off "needle in the haystacks" are possible I guess, but no way to build a business.  

The further you get away from campus, (and likely the more walking you have to do), unless its PERFECT, it's probably not for a student.Couple those needs with the fact most students couldn't afford +$500 without a cosigner, you're threading a needle through the haystack in neighborhood, rehab, and tenancy.

If they didn't pay their taxes, now they have to figure out how to redeem, how to contact you, how to do it, maybe pay an attorney when they don't have money, pay 25-50% penalty, and on and on, it probably just doesn't happen much.My guess is most people don't redeem....look at the properties in the sale and think about who/why/when they would redeem.....however if you find the needle in the haystack that is in great shape, occupied, sells for pennies, etc, they'll redeem.You're welcome to call me if you want to talk more about it.

I'd equate that to finding a needle in a haystack.

The needle can likely be found in the haystack, but other, less mature markets offer a far better cash on cash return.

However, in many markets, like mine, that are hyper-efficient, finding off market deals is like looking for a needle in a haystack - they are few and far between and even when you find a FSBO the sellers tend to have an inflated sense of what their property is worth. 

AdrianAdrian, I am sure that somewhere out there there is "A" deal of both, but in this economic cycle of things, it's not looking for a needle in a haystack, it's looking for a specific needle, of a specific gauge, of a specific color, from a pile of needles, thrown in a haystack.