The problem is that you don't get an opportunity to do an inspection before you buy.If you buy pre-sale from the owner, you have arrears to bring current, getting the owner to move after you have solved their problem and taken the pressure off, along with the previously listed concerns.

from those I know the way they got going was to buy a 4 plex when it went up in value sell and buy an 8 when it went up sell buy a 16  then a 40 then 100 extra and you need no partners.. you grow it organically. however of course this is not pay 40k and your instantly an apartment owner..

Ask to speak with some of their current owners and current/former tenants.

Numerous times I have been able to think through an issues that arose on a construction site and saved the Owner by proposing an alternate route to resolve it. 

My experience has been that although I outline the requirements for tenancy in my properties, both brokers and PMs still send people who would qualify for most property owners but do not meet my outlined criteria; and then are SHOCKED when I reject them.  

Many people on Sec 8 but also many market rate tenants/home owners.

Many states have discounted property taxes and lower yearly increases for owner occupied properties.

This property is ready to welcome its next owner with no repairs or updates needed.

I would love to hear from current franchise owners, be it HomeVestors, Red Barn, New Again Homes, Flip Cheap Homes, or any other flipping/wholesaling franchises out there.

Alternatively, you could consider seller financing, which could provide you with a steady income stream while selling the property.As a real estate investor, realtor, and owner of a construction company near Texas A&M (College Station/Bryan,) I'm happy to help in any way I can.