You will have no equitable interest in the property based on the Master lease, so I would suggest also having an Option contract in place to secure your right to purchase the properties.

Class C I bought because I was looking at gentrification patterns near downtown and hoping those areas would go up in value over time and tenant base would become higher income - rolled the dice and not doing well so far, from talking to other investors. 

Based off comparisons in the neighborhood, the house should be worth anywhere between $175,000 and $215,000.

They are investor-friendly mortgages that qualify a deal based on the rental income and do not look at your DTI in any capacity. 

Thinking $150-300k properties based on what I've seen so far. 

Lastly don't base the "party situation" off the old PM.

ALL Foreclosure MUST be posted in the county legal newspaper for a certain number of days based on the State. 

@Karthik Jayaraman Based on your math, it looks like you're losing $915 each month, which can be a significant amount for many.

The question is, how do people find these connections if it’s an area outside of their original home base?

A DSCR loan (Debt Service Coverage Ratio) type loan would look at the rental income and expenses and determine the amount it could lend based on that.