The PI is actually a great idea.

Four years ago a little idea started developing: I wanted to make extra income without a second job.  

I like the idea of negotiating one on one before the property is taken out of their hands. 

Any good referrals or ideas where to find people. 

After reading a few books (one of them being "Rich Dad Poor Dad" ofcourse) the idea of switching to a job to learn instead of working solely for money seemed interesting.

You need to get comfortable on the After Repair Value, as well as what the property could/should rent for, assuming by your post you plan to rent it.Has the owner given you an idea of what they have in it?

In your case I would budget for replacement, but entertain the idea of painting them.

Any ideas?

I have 5 business ideas that involve real estate and giving back to the community, to decrease violence in cities I once lived like Chicago and DC. 

The only idea I have left is to ask my realtor if she can provide me info off the MLS.