The way I've been finding properties is I first search the MLS for discounted / distressed homes (corporate listing, foreclosure, or short sale).

Once you find a house try getting the seller under contract for a substantially discounted price. (.65ARV - repairs - profit)4.

This is the first time I am trying this so I hope they come through.Also, I am actually hopeful that the costs will end up closer to 3500 since they said the closing company is trying to get me some discounts since I am closing multiple cash out loans simultaneously.Now after this the issue is finding more properties that I can use the same model with :-), they are getting to be few and far between.

Now they with get a discount on what they owe?

Since they are sfr's why don't you additionally comp out the homes and offer some kind of discount for a bulk sale The taxes and insurance are very low, what is the average age of the homes and did you budget for near term future cap ex projects I am envious of the cash flow Good luck

There are some circumstances where they have just put themselves in a horrible situation and selling the house at an extreme discount is the only option.

I think you need to go in at some discount to the current market price.  

I have used discount listing agents but offer full commission to buyers agent.

Most PMs will discount their fees the more units they service, but in the 1-4 space, it is usually about the same rate (8-10%).If you can achieve the same ROI regardless of where you invest, then you should go with what makes you comfortable, which to me sounds like control.Having said that, if condos are all you can afford in your current market, that is one thing.

I got really deep discounts too!