The owner has purchased a property like any other real estate transaction, and they own the physical property. 

Baltimore is too tenant friendly!

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

It's only dead if you are spending too much on your purchase.  

Kidding man.Don't laugh...I had a friend who owned units where one of the tenants did exactly what you said.

You could also purchase below market value. 

A close friend of the family ,who was married, and had a house together got divorced and in between that time, she did a QC and removed her name from the deed.

We have worked together for 5 years, and two of your four properties, purchased I believe in 2022, have both renewed their leases and are operating smoothly. 

I have a family friend who is a GC and been building MF homes in the city for years.