When I was into property rentals some years ago, I found that repo's could almost always be bought well under the asking price. Apparently, in those days, once the tenant had failed all attempts to stave off the inevitable, ownership reverted to insurance companies that had insured the banks' loans. Presumably they finished up with no end on their books and were happy to get rid. I bought two about 25% off. Happy days for me, but sad for those who had to move out.
Also, for anyone else considering doing this, the % return buying two up and two down terraced houses was a no brainer compared to more expensive det. properties.
I had a good system for 'vetting' prospective tenants, and thus never had an unplanned rent void. I never took DSS tenants, probably illegal now, if not then, and so they were not usually spending 24/7 in the property.
IIRC that tenants now have the DSS rent paid to them now and not direct to the landlord, so another good reason for avoiding DSS.