You will likely get a better return with a fixer-upper or even a well-maintained, existing property.

So I'm wondering what that result should be that I am optimizing for and I want it to be something that will be sure to result in some success for the client but also that I can have a high degree of control over (deals purchased would be hard because I'm greatly relying on the investors ability to close deals.)

For those more experienced in foreclosures, the 3 strategies above, and/or acquisitions as a whole, what advice do you have on how to optimize this process?

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Like it or don't like it, there is a class of leaders within every populace that must maintain control.

•Space: Optimization of space must be done well and professionals can tell you how.

"Deferred Maintainence", please elaborate?

I would recommend fix/maintain what the properties need.  

Is the HOA not a board organized by the owner and a few others to maintain the property?

The not so obvious ones like folks who build, install and maintain traffic signs and signals.