I have a bird-dog finding me out of state distressed properties and a contractor lined up to do the work.

Sounds like too many problems than it is worth - bad neighborhood, distressed house, title issues, low employment prospects. 

Please consider attending the Central Jersey REI meet up in Belmar which meets every last Thursday; our next meeting in 2/28 where we will be talking about Distressed Notes. 

It seems like there are plenty of distressed/foreclosure residential properties listed in the GTA, but there's a lack of distressed/foreclosed commercial listings by banks or mortgage lenders. 

A typical example would be finding a property that isn’t exactly distressed enough to need a large rehab, but instead is outdated, in need of a good cleanup maybe simple landscaping, and just general TLC?

Buying a distressed property, rehabbing, living in it as his primary while he lives in the area and then turning it into a long term rental.We just closed yesterday and here are the #'s-Purchase Price: $530,000-Initial Appraisal: $545,000 ($15,000 of initial equity)-Down Payment: 5% ($26,500) (All closing costs payed for by seller)-I connected him with my go to interior cosmetic contractor in the area and we have a bid of $50,000 to do updates to bring up to comp values and finish out the basement which we will be doing AirBnB in.  

I was connected to her through a friend of mine who knows I’m always looking for distressed properties/motivated sellers.

For the amount of time and money you spend finding deals, you can put that effort into saving a down payment for a distressed property that you can rehab, and turn into a cash flowing rental property. 

@Marx Laurore there are several meetups like BREIA (Broward Real Estate Investment Association) that meets in Fort Lauderdale and the Distressed Real Estate Investors Association that meets in Boca.

I want to begin flipping notes and distressed.