If you’re going to do this and add real value in the system, then I would focus more on most likely acquiring blogs which have traffic, but yet it is clear the owner doesn’t have the time for it. They probably have a bit guilt related with not maintaining that site. They also likely never idea they could sell it and make any money. So, which you could approach them and offer to buy it and say you’ll run it and supply numerous value to the community.
From their standpoint, it can be a win win. You then work your magic, build the positioning into a more effective advertising and marketing platform after which turn around and sell it to somebody else. You’re offering real value, enhancing a property people like, and profiting in the procedure.