You can borrow 50% of the balance or $50,000 whichever is less.

However, since it's a smaller city, would I have less competition for real estate or would it balance out since there's less real estate total as well?

You are missing general expenses plus capital depreciation over time, about 3-4K a year.NOI = 10 000Mortgage = 5724Offer like 105-110$ for this property and you should be good.And really, is it actually THAT difficult to keep a 4plex fully rented??

I recently came across a property with over $110,000 in unpaid balance, however the foreclosure estimates was about 60,000 according to zillow.com.

I am just wondering if it was a coincidence since HUD asset managers review thousands of bids and it seems like it would be difficult for them to single out buyers.

If the property cash flows, which might be the case in a college town, think student housing, then the deal could be a good one provided the numbers work and you factor in more repairs for college tenants.otoh, wholesaling in an area with few to no sales may be a difficult row to hoe.

Although I am a big proponent of using OPM, you may want to keep in mind that each time you apply for an investment loan you increase your debt to income ratio which could make obtaining new loans a bit more difficult.

What's difficult or challenging right now.

Marketing to retail buyers is difficult for a wholesaler.

It was not difficult to sell the idea to a buyer.