I did just discover a potential concern on Buildium that a user may be able to shed some light on.  

These kinds of people are going to cause you no end of headache until they are gone.

My hope is that I can pull out the full investment, which would definitely be a huge bonus.As far as management is concerned, kind of a hybrid of your points (1) and (2).

That $200/month can easily be wiped out with some expensive repairs due to hard partying or just lack of concern for the condition of the property.   

My main concern though is, is it even possible/wise to strike a deal for owner financing when a home is in the beginning stages of foreclosure?

This is the exact strategy "gurus" use to get people to pay thousands for a course.BP is a valuable resource, typically people who post here offer value or have a real question/concern they need help with.

Again my concern is using funds to their optimal potential, sometimes that involves some hair splitting.

So of course I kicked them out of the house.Now, the electrician called me and said he wants me to call the city to check all his works just in case if I hired someone else to finish it and fire hazard happens, I will blame him for causing it.

I want the neighbors to voice their concerns and show them how the design evolves with their input. 

So, what I have concern with- that hopefully someone in the vicinity of the issue can aid me.