@Igor Messano Thanks for the clarification...there is no constant here...you're in the hands of the association...typically most condo owners simply own what's between the 4-walls...failing structure has nothing to do with you, but at the same time it has everything to do with you.I think this is just a step-by-step path that you are already venturing down.

get a foreclosure, if you doing the work yourself, you'll have an upper hand on the competition cause your margins will be higher.  

If you expand your search to Alameda County (specifically Oakland) - there are TONS of 2-4 unit opportunities (and even a handful of 5+ units) for investors under $1m.

The HGTV crowd who hand everything off to a GC is dead in the water - they're simply making the contractor money and hardly any themselves. 

Once you have the names, a simple skip tracing service such as Enformion or TloXP will get you numbers pretty fast. 

They cannot hand you a check on the first and expect to get occupancy, payment has to have cleared.  

I get probably 20 calls a week from BP, and maybe 2 to 3 a month can do those 2 simple tasks. 

You could go to a local REI meet up or a local landlord association and get a lease agreement there.Options can be almost as simple as:"Spencer Phoenix grants Doug Pretorius the option to purchase 123 Main St. for $100,000 within 3 years."

I tried my hand at listing agent/wholesaler strategy but didn't treat it like a full time occupation, which it is if you plan to have any success.

We also have a newborn and would like to remain in our current home with her at least for the next few years.I'm willing to get creative, willing to get my hands dirty (as in demo/construction, not burying bodies...).