In October 2024, Arizona had one foreclosure for every 4,863 housing units, totaling 637 foreclosures statewide.

On the other hand, I also did have that in writing and made that aware to all of my clients, As well as the service providing softwares Stating the same policy.

For instance, if there was a total of $250K of debt on those properties that woud leave you with $350K of proceeds to use to purchase $600K of real estate.  

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

Quote from @Tyler Kesling: @Randall Alan- Totally valid points.

Look how many died in the Great Recession which was nothing as severe.On the other hand, the debt-free ones will be in a much stronger and better position to survive (because they have no debt payments to make).  

The rental market is strong due to students and digital nomads.Managing a couple of tenants would not be too hard but managing a dozen, on the other hand, would be a nightmare.I am a bit torn.

Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best. 

It's called a payoff statementif it's a big lender you will not buy the loan as it will take forever, you are better just paying it off. you then can foreclose based on the total balance owed to you which is both loans and any accrued interest. regarding fixing property or selling as is, that really depends and needs to be evaluated on a case by case basis