This is an intriguing opportunity for me, but I'd like to gather some insights from those who have experience with this type of transaction.Specifically, I'm curious about:1.

No books. type in Dr.

I suggest you buy properties no less than $750k and ideally target $1M+ assets that have minimum of $200k/door.

Off market = ideally only you or a couple other investors. 

However with good property manager and not a slum type tenant they pay like clockwork as they are 50-65 years of age lot of them working at grocery store or school etc.

Peak months are February and March.For Key West, the same trend occurs but with less dramatic swings (likely due to the greater variety of listing types).What size property are you looking for?

You mentioned a house price of 400K and a monthly rent of 2.5K  If we calculate based on these figures, then your rental yield is only 6.25% (2.5K*12/400K)(2.5K×12)/400K×100% = 6.25% Generally speaking, an ideal rental yield is around 8%-10%Consider renovating and upgrading to increase rental income or using financial tools such as mortgages to optimize cash flow.

What made you interested in investing in this type of deal?

This does not necessarily mean they will not sell, but if it is in BK it would need to be approved by the trustee, and depending on the type of BK they filed and the size of the unsecured creditors the trustee would only allow it to sell to the public to get the best price because - they have to make sure they get what they can for unsecured creditors AND the trustee is paid based on what is sells for, so they will want it to sell for more.

Ideally, you want to be cash flow positive (not including depreciation), but then be negative when including depreciation as you can use the paper loss to reduce your tax burden.