What would be a wise plan of attack as for acquiring a cash flow property in order to invest the returns on future rentals?

Can you share an experience where you had SUCCESS in acquiring a probate lead through direct mail marketing and closing a deal?

You are fired up and want to pull others up hill with you.That's amazing and the fact of the matter is that you have a solid plan to acquire, repair, rent and then look to repeat the process.Congratulations and good luck with your next search.

@Jesse T. they have a mortgage and won't do seller financing or acquiring the lease.

@Joe Hausen - Good question, but, it seems like you are not totally at ease with this undertaking and rightly so.My take is that this property might not be worth your time and effort to acquire, pay the overdue taxes, refurbish and sell for a measly amount of profit if not a loss. 

I mean no disrespect to others who have developed their skills and experience in acquiring properties in out of state markets.  

The main principal is that you acquire them and hold them.  

Downpayment Funding Sources SavingsHome Equity Lines401K Loans2nd MortgagesRoth IRA self-directed optionsDeal StructuresThe deal structure will be to 1.Acquire the property2.Rehab the property as necessary3.Rent out the property4.Try to keep tenants for as long as possible5.Maintain the property6.Rehab the property during turnover7.Keep repeating until a sale or more rentersExit Strategies 1.Buy and Hold and use home equity lines of credit to fund future deals2.Buy and Hold until the rent is 0.5% of sales price3.Buy and Hold and sell to invest in a down stock market.Team and SystemsTeam RealtorContractorHandymanReal Estate LawyerAccountantMentorThink TankMortgage BrokerTitle RepInsurance AgentProperty ManagerSystems Automated PaymentsAutomated Maintenance Request SystemExample Deals 1.Identify a property, say 100K that can rent for 1200 a month. 2.Rehab the property for 10K within a month 3.Look for renters. 4.Place renter in the home with a year contract. 5.Renew the lease.

You have to remediate it and disclose it from that point forward.  

Is it still possible for me to acquire this property even though the family has started the foreclosure process?