If your offer isn't enough to cover what  they owe on it, personally I would pass, because they would be taking a loss and I'm not sure  how they would go about paying off the remaining balance to their lender.

So without really seeing a flyer of what you are trying to do and the numbers involved I would not know which program or lender might be best for your situation.Some lender stay in major metro's, others go further out.

In some areas there are incentives for creating affordable housing and even special voucher programs for housing vets.

It took us years of researching, studying, taking losses, learning tactics and building relationships with neighbors & police in certain areas.

As soon as you close get an insurance policy to protect you in case of a loss.  

I think I made a nice profit; I got more than 5-times my original investment I think I got hosed a little when selling, but the profit was still very good and the experience was worth it's weight in gold...Just stirring up the memory makes me want to go find another deal now and get to work again building a team and conquer another project!

Next, and what I say will always be weighted towards what I know so forgive me if it's another mortgage thing, coming this summer PITI reserve requirements will change for REI.

@Nicholas Almgren, @Conor Hesch has a program with U.S.

He is THE Storage Guy and has a great program.  

I performed the programming behind this one: estimatingrepairs.net