Here are one of the examples I've found that I like the most if the layout of the house allows for it:

Update: The couple came yesterday to see the house husband loved it she made an offer of exactly what we wanted on the spot we negotiated a little on closing agreed that we would pay 1000$ and they would pay the rest out of pocket we are supposed to sign papers today do you think we could just walk in to a title company and they could do everything we need to get this deal closed ?

If the bank is too lazy to do an actual appraisal, then I will take advantage and make my asset look even better (on paper).  

From what I can see, you've got to manually monitor legal notices in the Times/Post/County Papers to compile auction notices, then track the sale status (date, cancellation, postponements,etc) on the default attorney/trustee website.  

It seems to me that most properties end up showing a paper loss due to depreciation.  

@Kate Moreland  @Meghan Chomut Ledger refers to the old paper based method of keeping accounts on paper.

The top scraped off and left the paper and glue. 

We buy distressed debt that is bank originated and then modify that institutional paper with O/O so that the terms of the original paper (created by fairly expensive bank lawyers) are still in effect. 

I've been driving for dollars and I have come across a total of 11 distressed homes, 3 have abandonment papers on the front door, and the rest are believed to be abandoned as well.

I think with just the layout alone, it's an uphill climb no matter how good the finishes on the rehab.