You will only see what you want to see (good deal) and not what you should see (the basement, the issues, the block values).

The market already always could list at $1 co-op but very few actually did that, sellers also could always list with flat fee $500 MLS agents but most know the value of good agents and rarely did that.

Run the numbers and think if sacrificing $600/month is worth all of the value of owning another home.

i think Arbitrage used to be a good vehicle. nowadays, people are more knowledgeable about properties, usage and values and you will have a hard time finding a desirable property at a low cost rent enough to make a profit.

I think a more ambitious strategy would be to "flood the zone with value" - specifically, pick a few listings in the geography you are interested in that are being mismanaged and propose your plan to that owner just as an ice breaker.

Ok so here it is:We own 2 properties with no debt on them, one is valued (according to realtor.com) at $256k and one is around $60k. 

Hard money lenders will either lend up to 85% on the loan to cost (acquisition and rehab), or 70% of the ARV (after repair value).

It's all about timing.The ones who are educated and use the tools available to shop at the county auctions can easily get deals at 30%+ below market value.  

Are you going to be looking at just turnkey properties or BRRRRRRR finding under valued deals and improving them? 

Cash buy How did you add value to the deal?