Do they have the proper insurance and licenses?

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Market forces are pushing and pulling but not a source of anything breaking.

So, I will not be needing to source leads as much. 

OOS BRRRs are the devil's juice on this forum, but if you set yourself up properly with contracts, etc., you will come out on top just take a bit longer so you need to underwrite that in mind.If the former, I would do a combination of fixed income, private lending, and note buying and trade the arb.

You must give proper notice before each showing, you must give the renters the opportunity to buy the house first, and the new owner will have to honor their lease if they intend to stay.

If your exchange is not done properly or your funds are not safe you are going to kick yourself for trying to save $500. 

In other words, you would have already invested thousands prior to the auction just to research the properties and their titles.What is your recommendation because without doing a proper title search (which sometimes takes weeks and passes the auction date), how would you know if what you're buying is a good investment?

it may be jurisdictional specific, but it would certainly limit the sources for providing credit reports.  

Quote from @Na Wilson: I have a source (depending on credit score) that can do a 90% LTV DSCR loan on non-owner occupied real estate.