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When it comes to these types of auctions by the sheriff, is there a waiting period that must be observed before rehabbing/renting the building post winning the bid?

Then as you build your portfolio look to hire a new Tax Accountant or CPA to match your growing needs.

It always comes down to understanding the seller(s), building rapport, and then coming to a win-win solution - we do a lot of creative deals, on & off market and each is always unique. 

I here in the Netherlands Rotterdam working on renovating a 3 unit building

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

Im currently networking to partner up with a home builder here in Staten Island and build Semis on empty land.

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.

Condos don't appreciate at the same rate as single family homes, and you are always a newly elected board away from STRs getting banned in your building. 

For path #2, you mean purchase & renovate a 3-5 unit building right?