This isn't a driving-for-dollars type method.

Then there are the NEFAR fees, about $500 a year, so factor those costs into your business model too. 

My plans are to sell my 2nd house (where my dad lives ) and move him closer to me. 15 minute drive beats a 90 minute drive.

Also 2-4 unit BRRRR's.I'm using MyREIPro.com for list generation and to send out the direct mail and like it so far.List generation: I either do Absentee Owners with >50% equity OR drive for dollars and lookup the owner's contact info. 

There are other factors involved to know if it makes sense for another type of creative purchase.

Of course, just driving areas can not paint the entire picture.(1) Morrow Small neighborhood feel.

Overall, there are lots of options.Also, there are two difference CoC return factors: 1) excluding profit at sale and 2) including profit at sale.

Lists can be created by driving around looking at distressed properties, using list source, or filter through the sdat maps available.

I'm just not sure if the bank/servicer are obliged to bid the market price minus the Net Value cost factor (15.95%) or the balance of the loan.

With regard to Managing it, I had figured on doing it myself to start, but you are right I need to factor that cost to use a PM in the event things change.