I also use the outdoor cameras to make sure that the grass is being mowed and the trash is being picked up.

BP is a great community with TONS and TONS of experience and knowledge to pick through.

Then, pick a couple of target areas and start analyzing deals—even if you don’t have the capital yet.

Pick those that are similar in size and look at their nightly rates, calendars and amenities.

Pick them based of production there bio back group etc.

I have seen the argument for over 3 decades and you can just pick it up from the Tx Occupations code bc some think I made it up.

Just nit picking. 

1) Don't fall into analysis paralysis, theres a ton of ways to invest in Real Estate, pick one and go.2) Take action.

My thinking is this leaves me with two paths: A) Best case is I pick up the foreclosure for $1M, immediately list it for sale at $1.6M or more and hopefully sell for a > $500K pretax profit. 

I like the idea...it's great to strike gold during the gold rush, but also, it ain't bad to sell picks and shovels either.