Joe Fairless has quickly scaled to $100M+ in assets under management and has utilized unique methods to establish credibility and raise several millions from investors for his apartment syndications.  

It was a very unique situation where the home had been foreclosed on, but the tenant had a ten year lease, which the courts held up! 

Others may have additional information, but my guess is that every property is going to be unique.

So I would actually recommend not looking into LA, or NYC, or SF, and explore suburbs or smaller cities.

It is a unique form of administrative foreclosure and has great value if you work it correctly. 

I've been exploring the condos and single family houses in Palm Springs,Cathredral City foreclosures/ and bank reo's, the market seems to bevery active and am wondering if I can find an equity partner to doa fix and flip deal there. 

Your just not familiar so it seems strange or unique or disgusting to you but you now you know .. its routine and to be expected if you want personal banking relationships and not do business with a computer..

Start exploring a FHA Reno loan.  

I'm in Peoria and I have often thought about exploring that market. 

I would like to explore the options on if it's possible to get certain areas rezoned.