Vacant homes are good prospects since the owner is not using it nor earning rent off it mean while they are paying property tax twice a year and either paying to maintain it or letting it deteriorate so in theory they may let it go very cheap if you can find them.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

Someone could give a point of view for a real exercise of wholesale ..There is a property that is not for sale but this deteriorated in an area where rehaber would find an opportunity.The property is in an area, which is also a thriving market for such business ..The property was spoken and agreed on a price before the inspection ...The investor and final buyer is at hand ...The day of the inspection costs will be determinedrepair and be given a final offer, putting theproperty under contract.the roll here would be ..controlling the property and then assign this to an end buyer.

I have spent hundreds of hours on the phone with Safeguard, attorneys, other investors and real estate professionals dealing with non performing notes and deteriorating real estate. 

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

He told me that without installing a sump pump system (at a cost of $12k), the foundation will continue to deteriorate, which could eventually lead to bowing basement walls—an issue that could cost upwards of $50k to fix.The inspector asked if the previous homeowner disclosed any water damage.

Often, units that are sitting on grade will see deterioration of the cooling fins, due to animal urine or other contaminants, and physical damage, both of which affect performance.

That is risky, as your current investment will continue to deteriorate.

Unfortunately, the bank has had if for years and they've let it deteriorate to the point where it doesn't make sense to even make and offer.  

I've got to agree with @Shawn Q. that these neighbors are prime candidates for foreclosure: common-law hubby resistance, deteriorated house condition, inflated value expectations etc.