It usually begins with wholesaling.

Even with a negative $100 per month of cash flow, this LOWER RISK property turned out to be a HIGHER REWARD, even if you payed full market value at the real market cap. 

I usually get back three or four applicationsthat I run free of charge.

If the bank took it back they are going to want a fair market value offer presented to them, so they usually list it with a local brokerage or put it on a website for auctions.

Curious to hear about experiences with this loan product, positive or negative.

Where I live, the price of real estate would return a small cap of 1-3% and sometimes negative.

(if you are negative cash flowing, then you probably bought a bad deal).#4  Limitations of stress.  

You will usually need to pay cash within a day or 2 after winning the bid. 

Her place will likely have negative cash flow unless rents are unusually high in your market.

If it's a reputable wholesaler they typically would not use a shady title company Thanks Chris - I like your idea of having my own title search done too but I'm not sure if there would be time for that as these wholesale contracts usually close quickly.