And how long on average would you say it took you to become the owner and take possession of the properties (to flip or rent them I suppose) from the moment you purchased the debt? 

For the moment I think there is a window to capitalize on a less competitive marketplace.

Beautiful areas, I also like hwy 49 in Sierra foothills, hwy 9 saratoga to Santa Cruz, Hwy 35 "Skyline"",  us 129  "tail of the dragon" Tennessee, I'd like to ride the Al Can to Dawsons Creek 1 day.

This is beautiful.

There are so many different opinions and mine is just another one of them, so take it or leave it, the beauty of it all is you can do what you are comfortable with and what will work for you!

Speaking as both an investor and realtor based in FtL, these small MF are very difficult to get into at the moment due to excessively high pricing leading to negative cashflow if you plan to finance them. 

From what I have gathered Ohio, Pennsylvania, and Michigan tend to be the states that keep appearing as the best spots for potential Section 8 landlords, at this moment in time.

While we hope rates will continue to trend downward, we can only work in the moment and with current rates.

I know the tools aren't always 100% reliable due to bad data so I'm curious if anyone here as experience with STRs in Albuquerque.It also seems like STR regulations aren't super strict at the moment - need to register for a permit and comply with various rules around occupancy limits, acknowledgements, etc - nothing too crazy.

It is a beautiful area but because of the zoning and rules up there it would be difficult for the area to "blow up" and have a ton of new growth.