Before you, as the buyer, pick a title company or attorney, you need a valid agreement for sale. 

In one of the BP webinars there was a demonstration of taking a random property on MLS and the BP calculator showed positive cash flow during the webinar :) So I initially thought that is a valid strategy, but nope in reality it doesn't work may be. 

It’s a valid, and at times the best, financial strategy.

If you get someone with a structural background, they should be able to give you more of a valid opinion.

Always a moving target and a owner that did not know what verbal validation looked like.

@Hammad Arif, it has a great commercial warranty.

New construction can be a valid play, but as you mentioned the influx of new builds and new potential places to rent becomes your own competition.  

If an individual signed a lease agreement when they were 18 but does not move in until they are 19, is the lease agreement valid?

You spend funds on something they said was valid today and they will change it to "Can't use it for XYZ, if you do it is now a 12% interest loan".Good Luck in whatever you decide. 

I'd really ask an atty instead of this blog on what that means time/money wise.In a foreclosure -You are not getting a warranty deed from the bank. get a trustee's deed upon sale.