Be sure you understand the annual filing procedures wherever you create an LLC.

Ask for process and procedure guidelines (in here you have to look at the inspections frequency, and how their proceeds are with them, eviction and tenant screening)2.

If anyone thinks they have the expertise to target pre-foreclosures in the face of federal laws, attorneys being in the mix dealing on either side of these matters, Realtors being aware of the legal environment, banks delaying procedures in anticipation of sales or solutions, bank employees reviewing contracts and pending steps, what a seller may do in expectation of a sale and other issues.......well, you just have at it.  

House hacking at its finest!

Larger real estate firms will have in-house legal departments to handle this but the truth of the matter is the actual concept and procedures are quite simple once understood and all real estate owners  would benefit from this but fail to implement the systems early on.

The procedure to build in the floodplain varies based on the jurisdiction.  

Should I wait to begin renovating until I am near the end of the action to quiet title procedure or would it be fine to begin work immediately?

In my case, at the end of their lease when I wanted to show the property to prospective long term tenants, the tenant gave me all kinds of grief about 'invading her privacy' and 'disrupting her life' even though I told her at the beginning of the lease that this was our procedure and I made every attempt to 1) give 48 hr lead times, when typically I would only give 24, and 2) blocked/scheduled showings for 1 day per week and 1 weekend day away from dinner time/church times, etc. maybe this was just the person I was dealing with though...- vet the tenant exactly as you would for a normal tenant.

Unfortunately, the good old days of buying a turnkey long-term rental and receiving cash flow day one is over (capitalism at its finest). 

Go with he/ she to.show houses, filling out the offer, and making all the procedures to closing .Get your hands wet ,  experience               .