Denver is set to start several BILLION dollars worth of construction, so costs will go up from there.

There are several issues like no reserves, and not to 30%.

My wife and I own and self-manage several rentals in the local area.

Does anyone have experience in buying severely delinquent NPLs?

However, I think they are just trying to get me to stay for another year.One thing to note, there are several other townhouses in the complex for sale. 

If your market is competitive, the same absentee owners you are mailing to might already be getting several offers a month.

We looked into several scenarios: making a few loans at 10% vs one per year vs. buying a rental property (with and without leverage) and the administrator fees will eat 40-60% of net annual income.

In the past I have worked with properties in the 50-120k range, wholesaled some, kept several for myself thru traditional financing. 

Something I do wish I had done seems a little complicated but would be pretty awesome: use a large map of the area, print or digital, and put pins with sell prices on housing that matches what you're looking for. create several maps. year over year. and look for the wave of appreciation.

He has a great story about one deal where he put in an offer way below asking, had the agent come back multiple times asking him to come up on price over the course of several months and ultimately got the deal (with a big profit built in) by sticking with his original offer based on his due diligence.