@Dan Ress Complicated question which depends on the location and the contract terms plus the actions and inactions of several parties. 

When should I know to contact either the homeowners who are in active or pending bankruptcy, or the trustees? 

I know a couple people including myself that invest while in active duty military service.

I have a great interest in actions but i am unfamiliar with process or how to get involved and would love to connect with someone who has purchased homes via actions to learn more about the process, pros, and cons.

They'll make a lot more money and also clean up the inactive listings.

I'm going to put these steps in action today!

I like this quote from Dale Carnegie, "Inaction breeds doubt and fear.

Bad time to invest in “active 55+ communities”, good time to invest in growing urban centers (and hospice care facilities).

Precious,You will need to check with local laws but usually you can pass the test and make your license inactive until you sign with a brokers.  

And I see this near transportation theory in action all over.