If you are comfortable with this method and bottom line then you really have answered your own question.I personally don't agree with your strategy to live in the property for 3-4 months to "take advantage of the FHA down payment guidlines".

I don’t need an original idea; I need a better method of executing an existing idea.

You can locate property ownership information, and contact the owner by by mail or phone (my preferred method of first contact).

(Joshua Dorkin you won't let us forget haha) With that said, I don't claim to know all real estate investing methods, but I'm confident Biggerpockets and with the help of y'all, I (we) can grow and learn.

I agree with you on the buy and holds, that's my method of investing too.

Im thinking of using this method to get cash to acquire another property.

I had a vacant property where we had to have 3 treatments to get rid of the problem ... although it does somewhat depend on the methods being used to treat the problem.

There certainly aren't comps based on different methods of financing?

I'm only familiar with traditional buying methods (one of the areas of my investing I want to iimprove on).

If a certain home is still behind for more than a year, the homeowners will be denied access NOT to their properties, but to the driveway/road even if it's by foot (so the homeowners still can access with other methods such as teleportation or flying, it may sound silly) until they can pay their dues or agree to a payment plan that we offered.