If there are abundant deals (in his world) at 22% it doesn't make any sense to do a 16.5% deal.  

If there are other investors to pay and you're trying to syndicate the deal your hurdle is likely to be a bit higher than if you have an abundance of personal cash that needs to be put to work.

Mostly I see this preservation activity being out-sourced to contractors rather than being done by in-house employees; but I would imagine that in areas that have an abundance of foreclosures that the banks can keep a crew of employees busy doing this stuff.Now, sometimes it can take time to record the new deed after the foreclosure completes, but the lender as the new owner will get the preservation actions started ASAP - so a deed might look like still owned by a borrower but the bank has it as REO, and so this is another possibility in addition to what Brian Burke has already pointed out.

Also, take into consideration that SFR foreclosures are in abundance, and cheap. 

There are an abundance of moving parts to any successful endeavor, and like anything else, it also requires consistency and a great deal of hustle.  

Any thoughts you can share on this risk factor and experience would be much appreciated as I am preparing to rebut my wife's inevitable concerns that there is too much risk inherent in real estate investing and I am not entirely sure there still aren't bubbles being created by the abundance of cash that has been infused into the economy by a print happy fed. 

He really doesn't hold anything back and has a true abundance mentality.

They think they can replace it though income and tobacco tax (even though it wouldn't come close) but the real reason the proponents of Measure 2 want this done is there is an abundance of tax revenue from the Oil that is being pumped out of western North Dakota (which isn't going to last forever).Has anybody seen where abolishing property taxes actually worked out?

Some folks latched onto the possibility of a high dollar trade and the crash produced an abundance of NPN's.

Sure, you may not find a deal that is 40-50% of its ARV in abundance like 2009 but at the same time, did you have a ton of cash at that time to pounce?