At the end of the day, its going to come down to the quality and confidence in your post renovation comps.

When I've met the dog in person, it's very calm and nice; it just seems to bark a lot when its owner is not home.

Personally I wouldn’t rent it for less.

I am not as concerned with cost and would prefer quality and transparency.

Do I just simply say, "I want to buy your house if interested" and keep it general or make it more personalized, "foreclosures are tough, I would like to help." 

And finally (I personally despise this option) you offer cash for keys.

I to,d him if he thought selling Cutco knives was challenging, imagine trying to sell a person on investing $50k or more with a sponsor that has yet to perform in this RE market (regardless if the value add is smart and likely to do well).  

Practice your personal elevator pitch in the mirror out loud until you feel comfortable saying it. 

TIAEither way, I would get on a plane and check out the cities in person.

but again, recent changes in the market have made cash flow much tougher just about everywhere.i don't invest in Florida myself but I'd pick a couple markets, go to each one in person, and look at as many places as you can.