If the stock market index fund is crashing by 20% or more, a 7 to 9% return from a boring, well-chosen income-producing property might make some people jump for joy.

The lease is also not incredibly lengthy.Thanks for bringing that to my attention @Marcia Maynard.  

I'd recommend to always keep in mind 'Reduce, then Produce'. 

The house next door just closed this week - similar finishes, age, and size - and it closed for $1.3M...Yeah that's incredible.

Is your goal to produce another income stream?

There are lots of resources on this process - look up "pre-foreclosures" in any book or maybe online.But even if you do get pre-approved for a mortgage, and even if the REO broker agrees to sell to you at the price you want, convincing the previous owner to sell can be incredibly difficult and frustrating.

The new Freddie Mac Multifamily SBL loan program is incredible.

It all sounds incredible in the long run.

However, I have heard that using yellow letters or some of the postcard services out there produce great results as well.Any suggestions?

@Buu Quach Definitely seek proper legal advice rather than asking anywhere online. 4 years is an incredibly long time to not seek an eviction for non-payment, and you'll need someone who knows the state and local laws well to be sure of where everything stands.Best of luck!