You have to seek out depressed properties; rehab, and then rent.

In this case, your best bet is to still reach out directly to the institution that owns the loan to seek someone up the ladder that has the authority to make a deal. 

Risk-taker (You got to be willing to take chances when opportunities present themselves).Personality (in less you have a ton of money already, people will not enjoy working with an a**hole)Outside the box thinker (got to be able to see things that others don't see or not willing to try)Willing to learn (the ability to take good advice as well as seek information to advance your business)Committed (everything isn't going to work as planned so you got to be willing to continue to try)Know when you say no (you got to say no to bad deals and/or partnerships)Please fill free to add or critic my list as you see fit.

If no response, then seek legal counsel.

Then, I would tell the tenant that if they think they cannot afford the unit, you would be willing to let them out of the lease with no penalty, providing they give 30 days notice, so that they can find a place that they can afford and be happier in.

I am beginning the education process to get started in real estate. I am looking to get into real estate wholesaling and I am looking for educational resources that anyone would personally recommend. Thank you in adva...

This way you can also get into a nicer asset and get above that million dollar mark, and seek non-recourse debt.

@Genesis Pacheco you are on the right path as you seek to underwrite these properties.

Readers should seek professional advice.

It has proven more than prudent that I dont seek reimbursement or utilize the services in any form myself.