I am in the beginning stages of this process and I am currently reading the Ultimate Beginner's Guide. 

Since its my first deal I fear buying at the wrong time, though I know if the numbers make sense then that would take away most of the risk.I have a real estate investment book (by David Lindahl) that describes there being a various amount of phases: sellers market, sellers market stage two, buyers market stage one & two.

If they do give notice during your vacation, arrange with a friend to arrange the cleaning and repairs for the turnover in exchange for whatever that's worth to you (less than the cost of an eviction, I am guessing).2. 

My main concern though is, is it even possible/wise to strike a deal for owner financing when a home is in the beginning stages of foreclosure?

Spend the next stage of your life living conservatively and saving every dime for investing and for a reserve fund.

It depends what stage of investment you are at.

That loan is for 1st time buyers anyway, you are past that stage.

so im in the beginning beginning stages of my real estate career.

Still in the early stages, with nothing finalized. 

Even better, get in inspected before your inspection contingency expires.Assuming you get to the rehab stage, yes master bath is great, but each area is different.