This substantially limits risk as there is probably nothing wrong "inside the walls."

In 2008 there was some substantial movement in the rental market (I've heard) due to the on-ramp that we used to get into the GFC.If we see a rash of foreclosures now it won't be because of toxic loans and the systematic fallout of the markets built on those loans. 

We were able to negotiate the price substantially and are excited about the new adventure. 

Expect substantially sub-standard repairs that will fail sooner or later. 

I only ask about 3 properties because I know that I may not be substantially profitable from 1 property alone so just wondering what a good starting point is with my plans to scale up. 

Gross Annual Expenses: $190k (prop taxes are $56k/year, trying to find out if they will increase substantially upon purchase).Tenants Pay: Electric, Water, SewerCurrently 100% occupied and we're told near 100% collections even though landlords are subjected to the no eviction order.The Business plan: Purchase, cosmetic rehab 25 of the 52 units @$12,000/unit ($300k).

Building relationships and meeting with different syndicators most likely pays off substantially more in the long run from a financial/personal perspective

If their contract required you to pay a substantial amount up front for work that was weeks away, that's a big red flag.

Numerous boarded homes and substantial vacancies would put a property in a D or F class. 

I also find most appraisers will not value the property based on market comps until you have owned it 5-7 years or done substantial improvements