Are you really getting a deal (discount price) if so what percentage?

You will need to purchase properties at a significant discount and Rehab to force equity appreciation.  

Gold doesn't pay rent ... it just sits there and looks pretty, but if you use Goldmoney they charge you a fee and you don't even get to see it look pretty :) If you want gold to pay you, you could buy shares of GLD and write deep OTM covered calls off of it to collect option premium ... in a panic, the price skyrockets, your shares get called away, and you have cash in hand to rock and roll and invest while there's blood in the streets.

This is one of the best benefits of being able to purchase distressed debt at a steep discount. 

The higher the risk the higher the discount which increases your IRR. and yes, the lower priced assets will erode your profit from servicing fees and possible force placed insurance expenses.

We also got a great discount.

That said, we model our holdings both ways to find the sweet spot between "maximize cashflow" over our intended hold period and "pre-payment of equity" which results in greater cashflow in the longer term ... it then becomes a matter of discounting the two cashflow streams and deciding which is best.It's also a matter of shaping one's strategy to fit the circumstances.  

It's been hard looking for something at a discounted price but I will keep at it until I find a deal that meets my criteria.

as well as having to go through a judge or attorney and possibly only getting it discounted 10 percent off appraised value?

I relaoate the tenants for a weeknd discount the rent for a month and tent the unit.