Hail coverage is unfortunately getting really expensive (like $5000 deductible).As for vacancies, call around to multiple PM companies and ask about economic vacancy, not just physical vacancy.

Properties sold to Fundamental Partners for about 12% below foreclosure value.I wonder if 12% will be enough to weather the storm.I believe these are Fed Low Income Rent controlled, I wonder how much longer that will last (with no ability to raise the rents).There looks to be quite a bit of Physical Damage to some of the brick walls, and the Trash from the pics looks to be piling up to the clouds (Citation Level).I wonder what the occupancy level is, as there seems to be lot of mailbox doors swinging in the wind.Were these guys hand picked by the forecloser to take this over, or did it go to open bid with another lender underwriting a new loan?

Think of "driving for dollars"—that is, physically searching communities for foreclosed or distressed properties.

So, given that you are a general contractor and master electrician, the obvious strategies that come to mind involve physical rehabs of a property.

The physical effort to rezone is not difficult, but it is often reliant on what the City ultimately wants in this area. 

Instead of looking for a physically distressed house, try looking for more of a distressed seller. 

Absolutely love the idea of physically searching, I'm going to try that next!

I have no specific properties in mind as of now, but wanted to reach out to all of you and see what factors I should be looking for/at once I am physically there.

@Devan WilsonThe nearest local lender to Oklahoma City with a physical office that has done a 203k in the past year is based out of Lawton, OK.This means that you will most likely be relying on larger national lenders for your 203k loan. 

They usually want to match identification proof with a physical presence.