How can one get the same deal as a "vulture" fund?

I'm reminded of the last RE trough in the late 80s/early 90s. My old building had a large # of units unsold by sponsor during conversion, sponsor went bkrupt, gave units back to lender. Instead of just getting best and highest on the apts, sold them in a block to a "vulture" fund when they could have done better on the open market. That fund made 50% in a few years (and also rented out units in the meantime, so carrying costs minimized). I know W67 & 30yrs have alluded to this, but how does someone at the retail level get the same deal if they can pay all cash?