Specifically, I'm looking for neighborhoods with a good amount of distressed 3+ bedroom townhomes for sale for $120k or less that require a moderate amount of renovation (no gut jobs or major structural issues) and that will get me a rent-to-price ratio of 1% or higher on the final ARV.Thanks in advance for any thoughts/ideas/suggestions!

Looking for more distressed or vacant homes for my next fix and flip.

I have spent hours, and days, in search of distressed property and locating a buyer thereafter.

Alternatively, you might consider the strategy of acquiring distressed off-market deals, renovating them, renting them out, refinancing to pull out cash, and repeating this process.Another aspect to consider is whether you prefer to handle the work yourself or delegate it to professionals.

Treat the distressed with respect, they know they have troubles.3.

Moreover, the value of the land is low compared to the construction cost so the land would be insufficient anyway and the distressed value would be very low because who would be interested in paying up for land with something partially built on it.

Hey Russel,Admittedly, I do not know BAM; I am curious about what is driving your interest in/decision to invest whether its a preferred return or more back end equity, or just tax advantages.The market has definitely put some operators' projects in distress, and it is very unfortunate, but the flip side is that other operators are able to use stabilized financing to acquire these distressed assets.Our operator partners are seeing an almost 20% discount as they are acquiring assets today.

Reason we get good discounts is their distress.

We get emails from wholesalers that get close but the properties are to small for our buy [box] (low ARV or rents), bad locations, distressed beyond belief, or a combination of it all. 

You may be able to find off market deals with distressed sellers.