You will have to mange showings a little differently (an open house style will be better than individual showings, so you don't disturb the tenants much)  Your target market will be investors verse home buyers.And as a result you will lead your marketing efforts with Cap Rate and less of a focus on Delta between Purchase and ARV.We use a term "Turnkey Rental" when marketing something like this. 

You need to be able to develop the project and generate a delta after stabilization of at least 25-30%.

You don’t want to buy on proforma but you do need to understand the potential and the delta to get there.If the property is stabilized and there is little to not potential to improve the NOI then it’s a Bond play.

I got the delta on the exchange and rev CA did not withhold my proceeds from my payoffs.. :)  unlike when I sold real estate that I owned they kept 25% until I filed a tax return.sure wish I still owned the things I bought in Kelowna though boy it blew up !!! 

An investor may at away if you have to raise additional capital up front just to cover the delta between the investor pref and annual CoC return.

Another Denver based inspector  working for a national franchise inspection firm damaged my brand new Delta toilet and flooded the bathroom in order to have something to write about.

The rewards can be transferred dollar to dollar (one point = one mile) on Delta, my preferred airline. 

I currently bank with Delta Credit Community and currently looking for another (possibly smaller) community credit union that's investor friendly in the Atlanta area.

And  at the trustee sale we either got paid off and made the delta or we got the asset, myself I was primarily interested in the asset for value add..

Then when the property sells, file a claim with the state guarantee fund against the 2 agents for the delta between the sales price and our current contract price.