I hope that makes sense how I am describing this.

I've had a few interested parties but nobody who actually put in an application yet.The only couple who's ready to put an app in is an older couple and their only source of income is the husband's disability payments.I'm not familiar with disability, but the only proof they can provide me is some old, wrinkly piece of paper that describes the benefits.

Can you describe how the neighborhood looked like?

@Malvin Cuevas The terms you describe are typical for Hard money.

At the time I think I said, sounds like its only a matter of time til something like you are describing was going to happen.

I would suggest the following:1) If possible, identify specific properties you are interested in2) Find out the owner from public records3) Sent them a letter describing your interest and asking for 10 minutes of their time in person or on the phone4) Network with others in the area to see if you can find someone to make an introductionHope this helps,

The programs that I have that would allow them are very few, but they may allow the set up as described?

I have received an unsecured personal loan before, and I used it for a property that was being auctioned, but the limit was pretty low and the rate was in the middle of the range described above. 

When I show them the math, that is about a 1.5% ROI; they are losing money against inflation.There used to be a HUD report online from 2013 that described the area as an opportunity, having insufficient housing for people who need it, etc.

Most of the money out there like you describe is for owner-occupants.