I don't always agree with whom will get rewarded with the vouchers but I do know many families are in desperate need. 

In my limited experience with this small number of syndications, they were very desperate to buy basically anything in order to have "deal flow" (these properties were not for sale, they approached me off market and made me ridiculous offers which I couldn't refuse despite not planning to sell these properties for another 10 years or so). 

Keep in mind that many of these cheap homes are selling for less than a third of their insurance replacement value, which really means that the land has negative value - let that sink in.Most buyers who can actually qualify for a mortgage will get a PA for $200-300k and desperately want to upgrade their life.

@Edward Suess-Hassman you won't be able to cashflow if you buy Class A or B property - unless it is a:1) Desperate seller and you get well below market price2) A major fixer-upper that you can invest your sweat-equity inYour other options are:1) Invest in Class C - but only do if you undertand 20-25% chance of tenant nonperformance and a lot of maintenance issues.2) You invest in another part of the country.DM us if you have more questions.

Then he decided not to do business, they made the  offer very attractive and he was desperate. 

-The fact they are still aggressively raising money with an advertised higher return than before (screams Ponzi & desperation)-Unlicensed individuals actually selling the investments and receiving commission for it (and other companies referring clients for a fee likely)-CFO previously convicted of fraudulent activities and banned by SEC from participation with anything related to this type of activityThe list goes on and on. 

We were desperate to get the house cleaned and ready for tenants and hired our PM with hopes that this would be resolved much quicker.

Norada Capital Management and its President and Founder Marco Santarelli are so desperate to raise money that they have resorted to guaranteeing investors up to a 17% annual returns.

Bozo and Krusty, who are absolutely desperate for a place (almost always for good reason), are who WILL apply for overpriced apartments, usually because they have no real concept of how they're going to afford the rent.Turnover and vacancy are what kill you in the LTR game, and they kill you faster if you're working with a small portfolio.

For the properties that are normal and make sense to purchase, the current owner in default, as time to lose property gets more closer, gets desperate and ends up finding a way to get current.