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. 

Ultimately, your ability to get a multifamily loan is going to hinge on the property's ability to support its own loan.

For my last question, the reason I'm wondering if you can compare the two is because I don't know if I should pick one over the other. 

Hello, I have purchased 4 different asset manager lists over the past two years, but three were ineffective with outdated information and many email bounce-backs or returned mail.The best list I found was at RealEstateTargetdotcom; I did a successful snail mail and email campaign, and picked up three new banks and an account with LPS.I also cross referenced names on the list to see who was attending or speaking at various REO conferences, and made efforts to meet asset managers in person.

Pick one strategy and master the due diligence side of it.Another thing to keep in mind is how much capital you have, and how many properties you want to acquire.

We no longer even look at the properties.Here is our experience.You pick out the properties of interest and drive by them. 

There are a few highly rated HipCamp hosts in our area that have 'U-Pick' farms of produce and/or petting zoo type animals, and they've added a handful of RV sites to go along with it.  

The contractor didn't want to pick them - it was a 15 mile drive (in California traffic, this would take a lot of time).

Hi Celso,The BRRRR Strategy is all about picking the right location and lender.