Before I put a offer in I looked to see if there were any open permits, there were none.

So, you should reach out to some local land banks in your area (google search that term specifically) and see if any of them offer cash out loans on land. 

This can give you the opportunity to possibly add more units within an existing property or even build additional units in the future. 

_____________________________________________________________Current Rents:House: Basement Apt: Current owner occupies $0House: 4 bed, former BnB, currently 1 room LTR, frequently STRs (travel nurses) 8001 BR Apt: $1000Studio: 900Cabin 1br: 1000Cabin Studio: 700Current Gross Rents: 4400___________________________________________________________Potential Rents - All rents are currently below market*:House: Basement Apt: Owner occupies $1500 ($0)House: 4 bed LTR $2800 STR $5500+ BnB 20,0001 BR Apt: $1500Studio: 1200Cabin 1br: 1500Cabin Studio: 1200*There is an addition attic apartment unused: 1200Potential Gross Rents: LTR=$9400 - STR=$12,100Tax:530/moInsurance:250/moAssumptions: Small family wanting to househack and come as close as possible to no monthly expense.

To win at pre-foreclosure you just need to offer more than they owe and the bank will be happy.

I had 10x fewer headaches but no more rent in my pocket.Based on what I have seen with deals being offered in the multifamily space (5+) units.

May want to consider an additional window as well as ventilation. 

What do I need to bring to the table, and what are you offering to pique my interest?

I would try to do 80% purchase loans on both.So 70k*80% = 56k loan amount 14k down payment + you will also have closing coststhen 120k*80 = 96k loan amount and 24k down payment + your closing costs So you will have about 32k - closing cost and loan costs for an additional investment

Additionally, you may want to consider hiring a local expert moving forward to help mitigate these issues.