Most of these have been closed or bricked in over the years and caused mold problems & dry rotting because the houses can't breathe anymore.

We used to own a home next to a detention pond (dry most of the year).

The longest power outage I had there was a little over a day in dry weather.

When the guarantee ended the rental income dried up, and that's when I took over the management and realize the place had been trashed and needed major make over.

I've had tenants use porches and balconies as additional storage, collection point for garbage bags, grilling area, and laundry drying( that they never seemed to bring in) No vehicles parked in the yard. 

The properties have been self sufficient since the ink dried.

Hey @Scott Peters -Dry rot is caused by a moisture/water problem ... we see it a lot around sinks and bathtubs/showers. 

Termite infestation or dry rot damage on a window trim.  

Plus, many of their funding sources have dried up.

So the deals are drying up and the competition will get hotter.I'm not keeping these, so LTV doesn't come into play.