@Matt JennissenYou can use a hard money lender on a distressed property were they will loan you 70% of the ARV (after renovation value), fix it up as Laura mentioned and then use one of their affiliates that has a product that is direct to Fannie Mae to finance it back out. 

The Realtor I discussed this idea with is affiliated with said property management firm and he is quite sure he can nail down the ROI and rentability.This is contrasted with the investing opportunity in say, a small commercial building, a few residential SFDs, or the like. 

With the Distressed Home Consultant law, I would flat out not approach pre-foreclosure bank "short sale" if it is not listed by a agent (that you have affiliation) on the MLS.

Not sure if the OO status makes a difference but you can try National Real Estate Investors Group Insurance I had an issue with insurance last week and they were cheaper with better liability limits than anyone else I found. http://www.nreinsurance.com/.Note: I'm just a happy customer no other affiliation.

Banks have affiliate lenders, generally in their regional area that they particpate with.

They are not allowed to be in the real estate business.They may have affiliate companies.

I would like to hear more from those who have attended and are not affiliated. 

I’m sure there are smaller brokers and firms that allow affiliate brokers to do this. 

You issue the deposit.You may want to write this down in simple bullet format, step-by-step, so they can perhaps comprehend it.In the future, I would be very careful about renting to people that don't speak English.

You are likely dealing with Premium Title out of Atlanta (An Ocwen/Altisorce affiliate)  by way of India.