If you catch these at the pre-foreclosure stage as slow pays or initially in default all the better as the bank has less in collection expense.You can still work out a discount but even buying at the payoff it can be profitable depending on the property value.You can practically force a lender to sell as it can fully indemnify them as a full payoff as demanded, continuing with a foreclosure becomes a rather vengeful act by the bank to punish a borrower, they don't want to go there.

It just depends. 

I know this is a very general "well it depends" question, but I'm just hoping for some general advice and direction.

.- The reality is this depends on each individual caseworker.

Depending upon the severity of the issue we will follow that up with a 7-day non-curable notice and get them out.

And that ARV estimate above isn't a one-off either, varying the radius shows different values for this just-sold renovated home:

Most credit cards give you 21-28 days on your float before the closing date, plus the 3 weeks or so before the due date, so the savvy credit user can actually sometimes float 5-7 weeks of credit with $0 reported depending on due dates and closing dates.

A lot of this process depends on your laws regarding STR and Mid term leases/occupancy?

Always trade offs, especially depending on how long that buyer is looking to keep the property, or refinance.

Whether you are getting a continuous stream of income depends on the deal.