The play is that rather than having to wait until the foreclosure process is completed, the investor can rent out the property (and earn a return - after rehabbing it, of course) during the process.

All you are doing is playing catch up to your cost,...you cost being the cash you put into every deal. 

Cash flow is real, but it’s often a long-term play.

It's hard to harvest equity on these plays, unless you commit, long-term, towards very light leverage, as the only practical ways to benefit from the equity in your portfolio, if you plan to never sell it, only exchange it, for a lifetime, are to spend the cash flow, or cash out refi.

Maybe talk to the city and see what the process is.Now of course you don't know how things are going to play out.

It's a forced equity and appreciation play with the benefit of personal use and the hope that 100% bonus depreciation comes back.

I give it ten or so years before we start seeing this play out. 

They are too close for comfortable game play.

Again, fair play for a major business like this, but it's the old guard who have held up the forums for years, even with their technological ineptitude.

Many of them won't be convinced by facts, such as how much revenue STR's facilitate in and around Asheville, and will continue to push debunked sentiments about affordable housing, but the threat of lawsuits might make them play nicer.