Inventory is so low right now, you can hear the change rattling around title company’s escrow accounts, so don’t expect to be making easy fat margins.I’m about to start erecting billboards in Richmond to find deals 😆 that’ll give you an idea of where things are at with competition. 

As far as building the actually list or lead generation I would consider doing this by going to Investor events in your local town ( Belly to belly) There is nothing better then getting face to face with a prospect.

It'll give you the first year of avoiding major expenses on things like HVAC if they go belly up.

Originally posted by @Joe Gore:You will always have people that will discriminate the Mexican people, but most people don't realize that if you send them back to Mexico, who will work in the fields or wash dishes in the restaurant, and you're not going to get a fat white lazy gringo to work in the fields 10 hours per days six days a week for $10 per hour.

Networking and shoe leather, getting belly to belly!

We belly crawl through crawlspaces everyday, and crabwalk through attics.  

@Ken Alston does the Dead End Saloon ring a bell? I

Fat chance.There are a lot of people that have REI in Phoenix, and I'm sure they're not buying on this 2% rule.

What does the future hold, a bunch of properties going cheap when the owners can't fill the units and go belly-up?    

You need to make sure that you are buying at a high enough cap rate that you have some fat in the deal to tide you over if vacancy rises.