If the money flow dries up, they close up shop and leave.If you can find Landlords willing to participate, arbitrage is a good opportunity to generate a lot of money without investing in real estate.

Corrosion, rot, termite damage, age, are not Tenant responsibility.

But now we’re at the point where that avenue may be drying up, and I need to start getting creative with other purchase options. 

We also let them know that the property was not doing anyone any good just sitting there rotting away.

Leakage will leave a trail of typically white sediment, and often lead to a joint or corner where the moisture settles and actually rots the wood or attracts carpenter ants/termites.

There are areas where you can find 2% rule of thump (2% ROT) type properties.

Electricity has been off for days, full fridge of food that is rotting, dog poop EVERYWHERE, most of his furniture and garbage is everywhere, baby room still has crib, changing table even a car seat, hell they left their keurig, the only thing we see missing is their tv and clothes--multiple holes in the walls chewed out from the dogs.

You guys bust me up ... putting in offers site unseen, in a market you know nothing about, thousands of miles away, with hardly any prior hands on experience, with $1000 EMD, but it doesn't matter 'cause I'll just back out and leave the seller high and dry if it doesn't work out.

Like after rough framing and dry-in is done, a payment is made for the work completed?

It is messy work, takes a long time to dry between coats, there is a learning curve to apply it correct, and smells really bad if you go oil based.