I like your suggestion of targeting a property with existing tenants and minimal work needed so I can ease into the process while building my network of contractors. 

But you do have to qualify for the seller's monthly payments as the bank is involved in the whole process and the loan is being transferred to your name. 

The process has been gradual due to limited capital and DIY work.

Becoming an S-corp has some downsides including additional tax prep fees, payroll processing fees and lower social security income in retirement. 

I explained how it would be in their best interest to assist with the process having the house tidy, showing it for me to prospective renters, and relaying to the prospective renter how I was as a landlord.The only other thing I requested from my departing tenant was to be out of the house 4 days before the end of the month. 

It should buy time, and avoid legal fees being added to the balance as the foreclosure attorneys wont be involved for a while as they process you for different workouts.

Additionally, the permitting and approval process for sprinklers can add up to three months to a project’s timeline.

Pre-development is generally considered the riskiest investment, especially for projects with heavy lift permitting processes.

You don't actually own the property until the sale is ratified by the courts as a foreclosure is a legal process though you are generally responsible for the property taxes for the property from the moment you win.

This is all part of the process of being a landlord.How are you accessing background checks?