Look everywhere and talk to everyone you meet. Let them know you buy houses. Find sellers that are motivated. I had a house listed fort sale for $159K for months and kept lowering the price. At $129K I got 3 offers in 3 days. I was a motivated seller. You can use many sources, MLS, bandit signs, foreclosure listing services, lead generating companies like Quick offers. com and fash home offers.com etc. It is best when deals start coming to you and you get to pick and choose what deals are the best to do. This is done be word of mouth more than any other way which takes time.
If you are not sure what you are supposed to be looking for, then the first step in finding undervalued properties is to research, research and do more research on the VALUES of properties. A strong knowledge of value gives you the baseline you need in order to define “undervalued”.
Without this knowledge, you will not be able to quickly recognize and then secure an undervalued property when you run across one.