It doesn't really matter if you own it long enough and bought it for a reasonable price you will eventually make money.

If you do this, you must do thorough DD on the LLC.  10 years from  now the LLC could be sued or a tax or code judgement applied regarding an incident from before you bought it and you'd be holding the bag. 

One I bought last year was so nasty, my agent walked in, looked around, and walked out, telling me that he'd wait for me outside while I took a look, lol.

Long time lurker who bought his first tax deed land yesterday! 

@Kate Pierse last year Civic Financial accepted a BPO for a flip we bought.

Earlier this year I bought a duplex in Mooresville.

Do some people have some different stories how they bought properties in some non-traditional ways?

Although I recently bought a house so my credit isn't TERRIBLE or anything - I have a high debt utilization on my credit cards and a seven year old BK that keeps my score in the low 600s - not exactly awesome.   

Noticed a post office near me is for sale and still has some years left on a NN leas as well as two 5 year options.  Building looks great and is in good condition...interior of course, is your typical rural post offic...

I bought a lot of foreclosed property after the collapse and my guess is that in every one of them the investors in the previous syndication had a 100% loss.