I had success buying defaulted notes direct from Consumer credit type lenders  Household finance type companies.. but the big banks sell this paper in bulk in big tapes... but if its a local Texas bank and they will talk to you then its possible.

Or would their be too much red tape getting involved with these types of properties or too much competition with others reaching out to them.

I can very quickly turn my units, so don't want it sitting vacant while I deal with all the red tape and waiting on approval and then getting a tenant etc...... that's a lot of vacant time

Most will say years, most will say I took some courses, read some books, listen to tapes, joined groups and forums and we can go on and on with this.Most make claims for their lack of success because I have no money, I have bad credit, no body will help me, you just don't understand my life and yes we could go on and on!

All in all, co-ops can be a great way to buy a primary residence in new york city due to the cheaper price point than condos, but the red tape involved in the co-ops restrictions will likely make in not feasible. 

I thought about handwriting a letter and taping it to the front door explaining that I'm a real estate investor and I'm interested in purchasing their property, I'm just not sure if that's completely legal.

While it was clear with every turn in this 3500 square foot house, the grandeur and what a special place it once was, it was also obvious that it was not being well cared for (it was a pig sty with dirty dishes, clothes, beer cans everywhere) plus there were so many places with wood rot, shoddy work done, codes violations galore, asbestos tape around the pipes, gaping holes in the sofits etc. etc. etc.  

I bought many of the books and tapes and even joined a multi level marketing business called Nouveau Riche.

We can come up with the 25% down payment but how do we find a lender who is STR investor friendly and will help us push through the red tape to get our next STR?

We often hit 20 degrees below zero and trailers are not properly skirted or insulated, or at least have heat tape on the pipes they can freeze up and cost you lots of money.