So if you bought it from a bank or other distressed seller it won't be used as a comp for determining the appraisal value of the neighborhood.

I drove the blocks zoned for 2-family and contacted homeowners that looked distressed.

I compare what I have purchased this year to what has sold in MLS, mine are WAY better, its about knowing every distressed property in your market, and moving on them when the opportunity arises, dont hesitate, act!

Ideally, we would like to purchase a distressed property that we can renovate while acclimating to the new location.

We are targeting non institutional owned properties that are distressed and have value add opportunities. 

I'm looking to buy distressed properties to rehab.

Buying more distressed debt.  

Find distressed properties that can be purchased at significant discounts.3.  

Has anyone had any luck moving forward with an owner who lives in and owns their distressed property?

At the beginning I kept track of earmarking enough reserves per unit, and my threshold was always that a unit could go vacant for one year without causing me economic distress such that I was forced to sell the unit.