Sounds like you are going with a Fannie/Freddie type loan based on the cap of 2%.  

I’m curious about your property type, amenities, photos, and reviews etc.

A few years ago there were a lot of get rich quick types, and I still get contacted by people who think they can buy 2 houses and retire on the cashflow. 

This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations

What type of funding are you using?

We’re still waiting for next steps on that one re: borrower repayment or foreclosure. what type of returns do they provide to investors?

Are you a hands-on type that can make improvements to a home or prefer to contract out work?

When it comes to these types of auctions by the sheriff, is there a waiting period that must be observed before rehabbing/renting the building post winning the bid?

What type of loan are you speaking of (that I might pursue with a unicorn local bank)?