I guess so... I'm probably cynical about this because several similar schemes have crossed the wires over the past year or so, and all of the schemes were damaging and criminal.  The one that comes to mind was a guy named Blair Hanloh out in Southern California.  Granted, Hanloh was far worse, if media reports were accurate-- Hanloh didn't just select neglected properties, didn't contact owners, and his renters weren't solid citizens and caused trouble.  But as soon as one of this guy's renters causes trouble, or one of the owners of these properties wants their property back and is unhappy that the locks have been changed and the property has been occupied, I just have to think he's going to end up just like his less conscientious predecessors-- in jail.  He just doesn't have any right to enter those homes and change the locks.