In my mind until they are lost they are all pre foreclosure.. when I chased these in earnest before the very strict  laws were put into place to make this activity very dicy we bought all of ours within 24 hours to 5 days of the actual sale at the steps. that's were you got the good deals.. if your mailing or contacting them with just the notice of default your going to not do very well at all.. they are not properly motivated at that point and you will waste a ton of time and money chasing those deals Along with most of these will have very little equity if any..

Are co-ops even technically an investment (considering you don’t own the actual space)? 

But looking back, I actually had the time, it's up to me to find it. 

What do I need to do differently in regard to screening, writing up a lease, and actual management of this property? 

This is actually not a unique scenario.

So you can actually split this proportionately to the usage of your home.

From a simple SSL cert issue to an actual compromised site.

They are a Purchase & Sale Agreement, Title Report, Power of Attorney, Disclosures, Closing Statement, Payoffs and a business card to a good attorney to get you out of the mess you will create if you try doing this on your own.But use somebody, like us, that actually knows what they are doing to learn this.

If it was me, I would actually want the owner/tenant of the property there so I can work with them and slip in a few questions about the property - remember they know the property better than anyone else as they live there. 

I was actually in the process of opening one a couple months ago with a credit union.