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To begin the Undead Treasure Hunter challenge, you must first get your hands on a treasure map. Finding the map can be a bit of a chore as it relies on random encounters, but roam the countryside long enough and you'll stumble on an appropriate camp eventually. Basically, Marston has a chance of discovering a makeshift campsite at one of the many predetermined random encounter locations. The camp will mostly be barren, save for a man and a lootable chest. Kill the man and open the chest to get the treasure map and begin the challenge.
Each treasure you find gets you some pocket change and a new map to decipher. Leveling up all the way to Rank 5 in the Undead Treasure Hunter challenge is also a requirement of the Mad Marston: The Trail Warrior achievement/trophy.
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Undead Nightmare Undead Treasure Hunter Guide - Rank 1
The first chest is fairly easy to locate. If you pull up your in-game map and hover over the Hennigan's Stead area, you'll see that in the very north end there is a stretch of land that actually extends outside of the regular borders. This small alcove is where you want to head. Once you've arrived, look for a small pile of rocks in the middle of a snowy field. Loot it to get a nice chunk of change and the map of the next destination.
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Undead Nightmare Undead Treasure Hunter Guide - Rank 2
The second chest is almost directly south of the first. Load up your in-game map and look for a series of cliffs that are southeast of Armadillo. The cliffs extend south of Armadillo, then begin to curve towards the east. It is at the base of the cliff where it starts to curve that our next treasure waits. Make your way there and be on the lookout for a ramp that leads up to the next small pile of rocks. Loot it for more cash and the next map.
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Undead Nightmare Undead Treasure Hunter Guide - Rank 3
The third chest takes Martson far to the southwest of New Austin. South of Gaptooth Ridge, right along the river, is an area known as the Scratching Post. Head there and look for two tall rocks that loom over the rest of the region. Between these two chunks of rock is our next treasure chest, and of course another cash infusion.
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Undead Nightmare Undead Treasure Hunter Guide - Rank 4
The fourth chest is located south of the border in the deserts of Mexico. Go to the Perdido region, and more specifically to Sepulcro. The next chest is south of Sepulcro, and the identifying landmark you want to keep an eye out for is a cluster of tall, green trees. Hiding among the grass and bushes around the trees is another small pile of rocks. Open it up for more money and the next map.
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Undead Nightmare Undead Treasure Hunter Guide - Rank 5
The fifth and final chest is northeast of the fourth chest and west of Casa Madrugada. It is high up on the cliff edge, and getting up there can be a bit of a challenge. Follow the cliff wall until you see an incline you can clamber up near the very east end of the cliffs, then move back west along the ridge until you come upon the last pile of rocks. Loot it for more cash and the completion of the Undead Treasure Hunter challenge.
Bright Hub's Red Dead Redemption: Undead Nightmare Achievement/Trophy Guide thoroughly covers all of the achievements in the zombie-infested expansion pack. Learn how to find and mount the Four Horses of the Apocalypse, hunt down a wild sasquatch, and hunt for heaps of treasure.