that would be an extremely powerful way to get started in a new market. 

There was this big rush, then got real quiet.

You can still find turnkey deals that make sense but you'll need to act quickly because those deals get locked up extremely quickly. 

(If you would like to track market expectations of rate changes, the FedWatch tool from the CME Group is extremely useful.)However, yields and mortgage rates can be greatly changed by Federal Reserve actions—the real drivers are the policy press releases and press conferences (typically scheduled for the early afternoon, a couple of hours after the publication of the decision).

Also, it's extremely unlikely that the occupants are caught up on their bills because their house was just foreclosed on.

If nobody redeems during that lawsuit, and nobody with redemption rights demands a public auction, then the judge will foreclose your liens, quiet title in you, order the clerk of the court to issue a deed to you, and you will own the property, free and clear of any liens or claims.

I know these are extremes but those of us that have been in the business for some time all have our own stories to tell.Best of luck 

@Timothy Rogers I just read all of your advice and you made things extremely clear.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

I couldn't imagine managing a property from out of state unless you had an extremely strong team of people in your market to help with showings, inspections, repairs, etc.