Even real life examples.

Nothing wrong with investing there, but just understand that things are typically "cheap" and "expensive" for a reason. 

Reason is what happens if the home needs repairs, do you have $ to cover it or if prices dropThey also will typically want a personal guaranteeYour best bet would be to find someone you know as the conventional private lenders will view this as too risky

There is no such thing as a "standard fee," however each agent has a fee that they typically use based on how they want to get paid.

For example, does it have to be paved or can it be a compressed earth/gravel driveway?

That’s because the sticker price will no longer come with steep commissions that are typically automatically accounted for...IMHO, this makes no sense.

Similar to others it’s typically not they are not profitable but run out of cash which is why investing in real estate without having money is risky and challenging because it is not cheap to maintain a property

I've found that typically in those markets, you are buying a property that is likely to appreciate less over time compared to other markets, but are consistent in bringing in cash flow, which sounds like is what you are looking for.

@Erin MaloneIf they were to be done with repairs and did not finish and close then they typically are in violation.

For example, before I became a private lender, I did the landlord and fix and flip thing and I was miserable.