It's the same premise as Fico 09 which will give less weight to certain derogatories i.e. 

Let me show you a pretty reliable way to do this:Start with your 1000, go buy a pickup truck that does not run but has a good tranny, body  ( I say pickup because a LOT of folks that work need trucks...market is decent) Comp your area and find a medium average number of 4 grand for this truck WHEN IT RUNS. get it fixed for say 1-2k now you have up to 3k into it. but it sells for 4000, you now have 2000 to do things with right?

Community bank relationships are worth their weight in gold and allow one to pounce when deals come up...

With this type of broker you can multiply yourself, make sure you have an agreement to pay them for their time and expense (don't be cheap here, they are worth their weight in gold, treat them well, pay them well)Expired Listings when you get expired listing in your investing area make an offer 25% below the expired listing price.

It could involve some body going through boxes of records. 

A good plumber and a good electrician are worth their weight in gold.

Think (if facing the house)  center is the body of the house... office off to the left... 2 car carport to the right.  

It is a service model for the investor who does not have boots, bodies or employees on the ground and does not have the time to devote to managing that team.  

If you could not do a consistent volume of these like 1 to 2 a month you offer very little on the borrower side.. and more risk and time and energy than your account is worth frankly.this is why you see so many folks have such a hard time borrowing on these smaller deals. risk far out weights the reward for the lender.. especially in FLA were its judicial ..

I am replacing it with laminate flooring so I don't have to keep replacing carpets with each new tenant.The gutter nails were coming out around the house due to the weight of the downspouts being clogged up.