What you're doing is 100% correct but what is your business model? 

I enjoyed learning this business model.

If you're interested in that business model, then investigate it! 

Learn to hold onto your cash until a goldmine pops up even if it takes several years to find a property because if you keep looking you will always find properties 10 times better than properties you found earlier.My business model is to double my investment capital every year.

My husband, Joe, and I listened to a podcast this week with Gene Guarino and was very impressed with his Residential Assisted Living model. 

If they truly want to be rid of the house then they would sell the house "for what they owe" and you'd take over paying their mortgage as your business model of renting the house up.,  Make no promiss to have the house sold buy... a date.Back story re whyt you do not want to do sandwitch lease option; buy on a lease and optoin and sell on a lease and optoin

This step is similar to the rehab step in the flipping model but there are some definite differences.

I have one appliance tech that only installs OEM parts, and another that'll installed refurbished since you just can't get OEM parts for a lot of older models.

The end destination not the freeway that gets you there.Once you know the goal and the strategy, the numbers will dictate if you the deal aligns with your business model and strategy.

The business model that gets that right will do very well in the near future, and I hope I work for them.