The current landlord didn't do much for repairs, so the tenant has been responsible, in other words he's aware of any issues.

@Ryan Canfield even though that property that you looked at seemed like it had a lot of issues at least it had a floorpan.

The housing authority insist the HUD limits prevent them from paying my requested rent or even increasing it at all, while the other authority had no issue entering into a contract for the requested amount.

Next time, we'll be able to mobilize faster, and we are working to be able to contract this type of thing ourselves.

Here in Calif, 16-units REQUIRE BY LAW a resident manager - - check your State requirements.You could operate 15 units as rentals and use the last as office / utility space and avoid the manager issue, but at 75 minute drive, I would think you would want a PM.

Again, lots of varied content to learn from:-Michael Quarles Real Estate Show (short and to the point episodes)-Mobile Home Park Investing (great tips, even if this isn't your niche)-Flipping Junkie (actionable tips for just about every REI level) Between everyone's recommendations you'll have tons of content to keep your commute educational!

Also, even if the previous owner only owed 60k, you have to take into consideration the cost of foreclosing and the lost income if they hadn't been paying for months or years, not to mention any other costs of satisfying tax liens or maintenance issues that need to be resolved before sale.So, speaking as someone who has bought only 3 foreclosed properties:  You make an offer that works for you, and depending on how anxious they are to sell it, and how much interest they've had, they will accept or reject.  

layers) and essentially did a full gut rehab, including correcting some structural issues caused by an attempted "fix" of a bad tub surround in the shower.

avoid issues, see an attorney!)  

He refused to give me any further identifying details, saying if I found him in the first place I should have no issue knowing exactly who he is now.