Look for homes that have had a NOD (Notice of Foreclosure) filed against them. This means that they are behind in their payments - sooner their filed the better. You can then approach the homeowner and ask them if they have considered selling their home on an option or land contract? Your rental payment should equal their mortgage (or a little more to cover taxes and insurance) and you agree to buy the home after a couple of years. Your "down payment" should be used to bring the mortgage current. Win Win.