That would certainly give pause to our local appreciation game.  

Although I do question if I am cut out for this game when things like this happen.  

It's impossible to factor in the repairs, late or no rents, evictions, and other games the tenants that dwell therein will teach you.Remember:  you won't get an A tenant in a D neighborhood. 

Easy to get is subjective.. easy for a player who has been in the game, hard otherwise.

Looks like I need to continue saving up my own money (skin in the game) to be more attractive to whomever I get the money from and in a better position.

In the RE game its only a matter of time before you run into some legal issue, whether you are sued or there is a contract dispute. 

My suggestion would be to not play games with tax authorities as you may find yourself in prison.

Maybe this is my contractors, but there is a reason flipping is a full time job.For out of state investment, I would be looking for turnkey operators, or find a partner in the market, where you both will have skin in the game to do it correctly.  

You could circle prospect, call expireds, farm, door knock, direct mail, hold open houses and invite the neighbors, contact sphere of influence, text circle prospects in mass.Bryan Casella has a great open house game plan where he invites homeowners.You have to see what works for you in your market.

Because this is a game changer.