They will be a waste of time.You'll open your lending horizons if you can find properties worth more than $120K.Best of luckStephanie

The owners dont want to waste their time sending our financials until someone is serious.

That program is much more cost effective for smaller projects and would still be non-recourse.HUD does not have hard minimum experience requirements but they want someone generally credit worthy and financially sound. 

Essentially you are just kicking the tires and wasting their time.

Good idea or waste of money?

Buying window units to rectify the situation is a cost effective effort and shows you are a good land lord!

Starting 10/29/18 the new rules take effect where you can do home possible conventional 5% down on 2-4 units while already owning other property.

I often ask if paying $100-125K+, for a turn-key unit, is a more financially effective play compared to buying a rehab/remodel project at discount.

It won’t have the said effect if you waste your time putting comps together for them. 

One of my most effective strategies is walking through the home with my contractor and having him explain the amount of work that goes into fixing homes that are in bad shape.