You gotta check on youtube videos nowadays a lot of new products on the market.

Pre Qualified is the initial step, it is very basic in the information it looks at, takes only a couple minutes and gives you a ROUGH snapshot of what you can afford.Pre Approved is much more in depth looking over all your financial information and even going as far as applying for the loan.Most agents nowadays will not show you a home without being pre qualified and then wont submit an offer without being pre approved.

They are highly sought after nowadays by former homeowners looking to buy but turned down by banks.

..or are all auctions done online nowadays?

That may have worked in 2012 when you could buy at 60% less repairs, but nowadays its more like 75% around here, and giving up that much of the deal for money costs makes the deal too thin buying that high. 

Of course, nowadays you have to prove that your net worth is over $1M, they won’t just take your word for it.

These economics are even more obvious in things like collecting rent (which can be done online at $0 transaction cost nowadays), showing the place, and making sure the tenants are treating the place right.Anyways, I just want to throw this out there that if you are going to bother to house-hack and don't want to do the perhaps 5 hours of work per year that go along with managing the property yourself, you've probably missed the point..You really don't need a property manager if you are house-hacking.

Nowadays, if I see something I like, even if it's off the market, I'll find out who the owner is and call them to see if they want to sell.

Nowadays, a quick close is probably 45 days.

And there is still a lot more stiffling changes to come in next few years.There is so many new obstacles both financial and bureaucratic compared to few years ago that you really need to put in a lot of work to make money nowadays.