Its a scorching hot sellers market over the river  as i'm sure your aware.

But started buying junk properties for under $10,000 using all the creative formulas I could think of (credit cards, commercial over draft protection, credit lines, partners, lots of Subject to Existing Mortgages, delayed settlement, flips and seller/contractor partnering). 

I've read plenty of books on the subject and actually found this website reading one!

There are tons of threads on this very subject.3) As one of the other posters mentioned it may be difficult already to sell to a fannie or freddie financed buyer.  

If, for example, a good friend of yours owned a property, and he needed $13k to rehab it, you can absolutely lend him the money to rehab the property and structure the terms and repayment however you like (subject to local and federal law of course).

With the apartment building market as hot as it is right now, I think sellers would rather sell outright or with seller financing instead of accepting a MLO offer.

Electrical, plumbing, exterior paint, hot water heater, refurbish boiler, flat roofs, Windows.

Then I would check the arv of the property and the amount due on the mortgage to see if you are underwater or not .If everything checks out you can do a subject 2 whereby you take over the mortgage payments and go thru escrow.

If you are doing 4 or less, it really is not worth the cost, time, and increased regulation you are subject to.

We set up "hot sheets" for our clients that automatically mail them bank owned properties.Not much to market to here at least in Utah.