I think that's right, but I don't know if there are other types of properties (aside from the really distressed ones that might be worth inquiring about) where this strategy is used. 

She had two viewings and plenty of opportunity to check the place out. 

The idea of networking at 7 a.m. on a Saturday wasn't exactly at the top of my to-do list but the chance to meet with so many other experienced investors was well worth the 4 a.m. trip to the Bay Area.

I really don't have anything to hide, but I can't help but view this request as negative - like I am giving away secrets.

Those which are eligible for these programs are vacant/abandoned, vandalized (stripped of mechanicals, plumbing, electric) and are in need of more repairs than they are worth if someone were to buy them from the owner due to the amount of back taxes due.

And "years" later they will still be worth $30-40K (or less).

Get with a Contractor and a Real Estate agent that you can trust. get the contractor to bid on the rehab in order for you to understand what it takes for that property to come up to actual value, get comps from the real estate agent to understand what the property is worth, make an offer based on those numbers and move the property to an investor.

@Jazz Wilson you could offer to pay them to leve if its really worth it to you. 

Only the most desperate renters would probably agree to live there so the price of the property would have to be dirt cheap and cost you as little money as possible in the rehab to make it worth the effort.Your gambling that the surrounding area will be gentrified in the next few years and increase the property values.If this was in Southern California I would say yes absolutely but,the ATL may be a little harder to wait for unless the population booms there in the next 5 years.

The problem with being a new investor is that, unless you have enough net worth and liquidity as well as a down payment, you need to rely on other investors.