If you find a motivated seller in some kind of distress they may negotiate substantially lower. 3.

-you generally have to buy a severely distressed property at a steep discount. 

My full time job is a real estate agent at new western so I see alot of distressed homes that are good for fix and flips or BRRRRs if you ever want to talk about the market down here in san antonio or see what we have going on feel free to reach out. 

Everywhere on the news, people are talking about multifamily distressed owners.

Of note, Edgecombe County (Rocky Mount) is the most distressed county in NC. 

All that was said was that one of their operators purchased a recently distressed asset from them and that one other said that they were hit with what they thought with quite large capital calls. 

Quote from @Claude Diamond: Quote from @John Slater: I’m learning some states have laws against door knocking pre-foreclosures/distressed homeowners.

The pros: - not having to do a major renovation from out of state- easier to get a conventional loan since the house is livable vs. a distressed property (would need to pay cash, do a hard money loan, some other type of financing)- can get a tenant in quicklyThe cons: - you don't know how good the renovation is, could be cosmetic without addressing underlying safety issues (plumbing, electrical, foundation, etc). - a home can pass an inspection but once someone is living in it and putting daily stress on the house (turning faucets on, light switches, turning on heat/AC etc), things can start to malfunction.

You can also 1031 exchange to a distressed property in San Diego and renovate it.

Charleston is still crazy hot and any decent detached SFH is selling for $250k distressed or $400k+ on market.