Why did the previous owner sell it for only $85,000?

The process of selling is a bit more complicated and is a much larger transaction that can have a lot of nuances depending on the deal.

Buyers may be backing out for failure to obtain financing for the deal.

I would personally call the local housing authority and call property managers.

GC in the area How did you finance this deal?

What is the best way to find and approach people who are not necessarily selling at the moment and make them consider a sale?

I know on my new builds since we cant put the BAC on the listing the brokers bringing in Buyers just pop in what they want to make and well its more than I am willing to pay when I have to build the house for them and meet with them time and again.

My question is, how do I take money out of the property or leverage the property so I can buy the next one? 

A 14-50r plug was always the preferred method, especially before the world woke  up and switched to the Tesla charging standard.

When looking at the property today, and the current rents that it is getting, anyone can see that the property is clearly underperforming.