My best guess is their failure rate is more than 98%.The truth is not as “convenient”.

The reason is, you must continue the interest clock on each year's taxes to up to the present, at whatever the interest rate was at the time of the auction.

I am seeing interest rates start in the mid 6% range for foreign nationals here in Florida.

Of course "hoping" rates will come down is not a sound strategy so finding a way to assume a loan that already took advantage of low rates is a great option.If you were starting over and targeted a large SFH, would you try to maintain the property in a way that would still attract regular homebuyers (not investors) if you needed to sell?

I think most investors want to win on more than just the interest rate.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

In my experience, tenants that remain in place for 5+ years are almost always behind market rates.

Well if you ran realistic conservative numbers for maintenance, capex, vacancy rates, rental income, etc then you don't really need cash flow do you?

.- in this higher rate market, i find BRRRRs to be challenging because after a high LTV refinance the units have negative cash flow.  

How did you come to have expertise in the eviction rate in NJ?