Hard Money and larger institution lender-funds are built for making such loans.

Like the title says, I have recently discovered Bigger Pockets and am so excited to have found a community/forum of likeminded investors!

@ Wendy Schultz, that's all it would be. just a sample to say thanks for choosing us for their visit and a card for when they discover they like it.

We then discovered them in the original stairs into the building so they all had to be rebuilt.

One last item I thought I would mention, I've heard of folks on the podcast using credit cards with 0% down for rehab costs (usually Discover) on their BRRRR deals.

In the process of trying to defend him, the attorney discovered that the owner had built similar "dude ranches" in 4 other states and paid for them by suing contractors each time.That sort of thing is partly why I quit contracting and retrained as a home inspector.

They are likely at a discount because they are in bad shape and could not be sold to someone using traditional lending institutions or there is some reason the property owner wants to liquidate their portfolio.

Let's say three month's lost rent (approximately $4000K) by the time you get him evicted, and once you get in you discover $16K of damage. 

There are institutional investor lenders out there that will lend at terms Somewhere between the bank and a hard money lender’s.

The lending institution, in order to even consider a short sale, will require that the property be listed on the open market by an agent.