My process is almost identical. 

I have met a few folks recently who are active in that market and I am planning on following up and seeing what their experience has been.

Every time, there is new little things, especially in the financing process.

Plan for the unexpected3.

We've done demos with all of the big name PMS options and are finding big gaps with all of them, mostly when it comes to payment processing.

So we are talking about a 5 or 6 week process with no court supervision required. 

I’d appreciate any insights, lessons learned, or recommendations from those who have gone through this process.

Quote from @Daniel Tanasa: Another option is to get a small cash out refinance from the house you plan on fixing up, if is in financeable condition, and use that to fix it up, while still cash flowing.

You snowball plan has a very high success rate.

I've worked with Scopes before but hadn't thought about generating one with AI so would be interested to hear your step process.