And it seems like they have been running this kind of scam for over 10 years!

Otto, in my opinion the kind of ROI you’re talking about is well worth the “risk”.  

Usually, they live out of town and want to narrow their housing options before visiting.

It’s worth understanding their opinion and sometimes this kind of request means they see more potential in the deals than they’re letting on.

Best advice is to join or visit a local REIA meetup and start shaking hands.

These properties today can throw cash like crazy, but you'll be dealing with a certain kind of tenant and depending on your tenant screening could be looking at higher costs due to poorer tenants.

Amortization length along with any DSCR requirements comes into play also to determine what kind of down payment requirement you may have to meet. 

On the other hand, if these are in terrible areas, you introduce a different kind of risk. 

I think another idea is come up with some renderings and a slide deck and go make presentations at the closest senior centers, Rotary and other service clubs, maybe several nearby chambers and see what kind of interest there is. 

They probably won't share said report, but you can ask them all kinds of questions related to the report - how many leases are on it?