A small correction on @Brian Burke mentioned about the centralized location, while there's no one place, there're actually multiple places, that offer view and feedback on a variety of syndicators.

Late fee is charged on the 5th, I start eviction on the 11th.Second, you don't have to use the court to remove someone and you don't have to wait until their lease is up.

Rebecca, you are a legend and I am somewhat familiar with Captain Save a Home, I cannot wait to chat with you. 

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

As @Bradley Buxton mentioned, you can make many markets work! 

Of course, waiting is safer.

An agent is ON YOUR SIDE as opposed to the wholesalers and investors you mention who are in it to make as MUCH AS POSSIBLE FOR THEMSELVES!

Hi Raghavendra,Sounds like you just need to wait till your LTR tenants move out to start setting up the property as a MTR. 

If so you may have some full doc options which have the best rates typically and terms.Like others have mentioned you have DSCR loans too but this only allows you to purchase non owner occupied properties (not primary residence or second home occupancy type properties).

As others mentioned, not a big deal for the solo 401k itself to lend.