It is simply another term for bank owned property that was already foreclosed on.One is not better than the other.

Missing shingles and roofing leaks seems to be a common problem, which is easy to spot simply driving through these neighborhoods.

I simply rounded up to the nearest 1000.so if the payment was 1200, I paid 2k  if it was 1800 I paid 2k... set it up on auto pay and forget it.when the crash happened ..

@Zachery Hinson The first place to start is by clearly identifying your objectives.

Not saying they are intentionally rude or ignorant it is simply that facts and opinions trump feelings.

You simply need to find out why it is not selling, decide if you can work with the issues and offer a price that works.99% of properties that do not sell in a reasonable time period are overpriced.

Simply ask them what is it they do and how have they been successful, or what have they learned from an experience that has gone wrong.  

Yes its my understanding that you can simply move in after section 8 moves out, section 8 is guaranteed direct deposit by the government... so not a bad income stream 

Do not dismiss the "encouragement factor" that you will derive, simply by being around people who are already doing the exact same thing, that you are trying to do.  

If you get lucky you may be dealing with a hobby landlord or simply negligent landlord that has not keep his rents at market.