Greetings,I have been retired 3 years now. I consider myself financially secure but a bit too exposed to the stock market. Looking for ideas that won't have my dealing with tenants. I would enjoy meeting like minded f...

Alternatively, show me why it's a not ready yet.

The alternative of the first vacating their foreclosure plays to your hand in being able to foreclose and have your best shot at recovery.  

If you are looking for a cheaper alternative to try, use Ozium.

I was curious if those who have used this technique for purchasing rentals have came across any situations where some one has done this and things went wrong with renters not paying or something happening to the property, just anything that might go wrong, and how I can protect myself from anything that might put my $401k in jeopardy?

These "wholesaling" techniques were taught on BP by others so it must be ok!

Please call me if you would like to learn about these investment alternatives.  

A less expensive alternative, I think, might be to consider submetering the electric for the units off of the main power panel.

Find out what the problem is, then fit the situation into the financing  alternative you need.

Are you looking at any alternatives