Well you will have a healthy return on your initial cash investment, plus all you need is 19 Rent payments per year to break even.We would do a deal like this, as long as there was no: structural issues, major repairs coming due, or evidence the area was in was headed towards a downturn(major employer leaving, falling rents/property values).

Your unjustified bias against double-closers was evident when you pigeonholed them as a separate group from your "smart" people by writing: "The people I know have capital and can make good on their offers.

And practically impossible to prove if you got the local council involved, as the rats (or dogs) will simply run off with the evidence.

Flooding: Any evidence?

But if you're asking for marketing purposes, then that won't matter as much for you.You should also make sure you can research a property to determine if the mortgage being foreclosed is either 1) a first mortgage that is sufficiently high that there's little/no equity (and thus it might not be a property worth pursuing), or 2) a second mortgage that, when added to the first, is also so high that there's little/no equity.I use ripropinfo.com for the tax assessor and land evidence record site links, to research that information for RI.

Problems that affect the "livability, soundness, or structural integrity" are what to look out for, also potential health and safety issues.So for livability:operational heating systems, operational plumbing fixtures with no major leaks, operational electric systems reasonably up to date (No Federal Pacific or Zinsco panel box, no aluminum wiring, etc)Roof with no active leaks - usually with at least 5 years of estimated remaining lifeFor soundness/structural integrity:No foundation issues - cracks, slanting floors, entire house leaning over, etcNo evidence of termite infestationHealth/Safety:No moldPeeling paint, especially in buildings built prior to 1978There's probably more, but that's all I can think of offhand.

Explanation was "we have no evidence there were curtains in your property". 

You have no evidence anyone in that picture was harmed.

  ;)  No scientific study there, just me and my circle's anecdotal evidence. 

You know I really love this post for so many reason. 1) It's evident there's two people that are networking together a bit for success... awesome!!