There just aren't a ton of MFH on the market for a reasonable price2) Investing out of this market (say, Spokane, where its cheaper) is hard as well because I have to purchase and manage a property that is hours away by car, and this being my first investment, I'm not sure how well it would work to be so far away.So I'm sort of generalizing my concerns, so maybe someone has suggestions on how I can achieve #1 given my sitation.This leads me to this idea.  

Please give me some ideas.

Is that a good idea or should I just wait?

@Abel Curiel I'm interested in the idea of portfolio lenders, but a little unsure of how to go about that. 

@Cameron York - whether a note will go into foreclosure really is a unique situation on the note and as part of due diligence you will have a good idea if it is definite foreclosure or possible foreclosure.

Any ideas as to how to find those deals?

Hi @John S.Not sure if I have seen 1 yet on BP, but I got this website from Wendell De Guzmanhttp://homewyse.com/hopefully it will give you some general ideas. 

I don't have any idea about it.

(There are free forms on this website, you can search for 'Contract' to get a basic idea of what it will look like.

I have heard people talk about finding an an investing "edge", and I think trying to retrofit buildings to a passive house standard may be a good one.What do you think about the idea of buying a house that needs to be renovated - perhaps gut renovated - and fixing it for rental to passive house standards (or as close to that as possible).If the cost is equal or less than renovating a house to current code standards, then it would follow that renting that house would provide a better return on investment.