My strategy would be to target properties which are most likely of the owner NOT redeeming.

On a per-owner basis the policies will change for occupants over the age of 18. 

I heard a story today of a condo owner whose entire complex was lost.

The next property will be another owner occupied.

Keep track of 3 buckets.1) Owner occupied portion - potential deductions for schedule A2) Tenant occupied portion - potential deductions for schedule E3) Jointly occupied portion - likely prorated for both schedules.There are nuances to this, so I recommend looking for a tax pro who can coach you on this. 

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

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.

We manage a property that was having drain field issues for awhile, got estimates and had the owner approve one of the vendors.

For RE owners, death allows you to pass assets to your heirs and step up in basis, effectively eliminating recapture.

However, if the FHA interest rate is lower, I would still go that route and if rates drop refinance  however keep in mind FHA has PMI for life  Here you go FHA has the self sustaining requirement that requires the three non owner occupied  units to cover the entire PITI which with 3.5% or 5% down is virtually impossible with today's interest rates and price level.