I'll begin by identifying a key element in the way WhiteHaven interprets our mandate - delivering the highest return possible on a risk-adjusted basis.

Identify the metrics then work backward to find the property. 

It's great method to identifying which loans to pay off first to maximize cashflow (my gut tells me to pay off your income-producing property and then snowball that additional income to your primary residence) Also look into the Velocity Banking method that uses a HELOC to pay off large debt faster.There is a lot of skepticism out there about the Velocity Banking method, but I'd run your own numbers.

I'm assuming more than 20%.You will have to do some dialing for dollars to identify a lender that can really help you with this, but what's in it for you once you find that lender (this is your "gold standard" and when you will know you are done with the "dialing for dollars" part of your search)...- Cash to close less than 2 grand.- No PMI (note that this isn't the "lender paid PMI with a bumped rate" that is often advertised as "no PMI," this is literally and without ambiguity no PMI).- Normal Fannie 30YF and not some crazy portfolio mortgage, in spite of the above two bullet points.You will want your lender to go over what terms/conditions to include in the purchase contract.

And is there a system I can use to identify what I am really purchasing? 

So I would identify what is most important to you in this transaction (speed, creativity, rate, ect.) and find a lender to give you something that meets your goals. 

I use a move-in sheet where the tenant can identify any existing damage to the unit so during move out those items are excluded for repairs beyond normal wear and tear.  

We would like to build a working relationship with someone who can help with ARV/appraisal values and rent estimates for properties that we've identified, and can help find pre-market opportunities as well.  

@Austin Durham, let me know if you identify other HML.Thanks, LuAnn

I recommend hiring the attorney after you know the status of the properties, identified assets, and know the whereabouts of the defaulters.