Even if a conventional Fannie/freddie lender will not finance it, there are always portfolio lenders (who make their own decisions on a case-by-case basis), commercial loans (yes, they can be made on less than five units) and last but CERTAINLY not least, private individuals (a massively underutilized financing source, IMHO)I think your bigger issue might be insurance, rather than financing.  

Thanks :) I'm hoping that due to how the current owner finished the basement we may have a chance, but worse case if we can't, we just have to figure out what to do with a weird not bedroom (it needs an egress window) that they made downstairs where everyone can go currently..

There is still good money to be made in AZ, FL, GA, TX and other states, however, picking the right submarkets is key. 

When we met them at the property, they made the statement, "I'll be living here for the next 90 days before I move out.

Here are some points that may help others in their letter writing campaign:Be professional in you content - get to the point in the first lineDon't draw pictures on the envelopeDon't draw dollar signs around everything - don't draw pictures of stick housesBe yourself - tell your story; example - we are a family business, looking to purchase additional properties for our family portfolio - we can pay cash but would prefer some seller assisted financing, glad to supply references if needed - we live in the area ----etc.Forget the YELLOW thingDon't tell on yourself, don't call yourself an investor - Don't lie - I can settle in 2 days - we are big (like a made up name -) people like to do business with others they can identify with - be humble if that is possible.As for sending letters to vacant houses that are Free and Clear - why do all that research - a waste of time in my opinion!

You can find more info on meeting times and dates for both meetup groups atwww.meetup.com/acrenmwww.meetup.com/abqreiaLet me know if you have any questions, I have made a lot of great connections on BP.  

Any article in particular that made you take that bearish outlook?

I just made these up but they are very real for this area. 

No deal is better than a bad deal- I have not made a purchase in 2017 and am itching too but I love in Rochester and wouldn't want to go way out to holly.- from a guy looking for a few deals but being patient

very important, i have student rentals next to a college, the college expanded and added dorms, all was good for 2 years after, then enrollment went down. the college changed it's policy and instead of just Freshman being required to stay at dorms they made it so that Freshman and Sophomores had to stay in dorms, took a big hit on the town rental. you need to figure that Sophomore year is a big year for student rentals, kids start to drop out after that year, so those would be your biggest rental.