It will be the quickest you will make your money back from a cash on cash perspective as a result.

From my perspective, I think this places more importance on the property you acquire instead of on the rehab costs and the contractor.  

I have also been in conversation with the agent contracted to provide the bank with a fresh BPO - which I will have a copy of later today.Can any of the experienced note investors share what action steps I need to take to make this successful?

If these people are so willing to evict you, and now gave you back your two month's rent, find another place ASAP - and use that money for a deposit and start fresh.

It is very important that you calculate right metrics in the right way..else you can get stuck with a wrong deal....Zip code is a too large of an area from RE perspective.

There were 4 or 5 units in need of repair and when I went to go see them I was expecting holes, mildew, dead cats, fire damage... saw dirty carpet, dirty appliances, minor drywall repairs, and a need for a fresh coat of paint. $3k-5k per "damaged" room.The managers I talked to both literally said, "I hate people."

Check my prior posts, I'm totally biased to my area but if I were fresh out of college and landed a W2 job I'd get a mortgage and live in rehab in mills mill/Dunean/Greater Sullivan.

I've combined info from experience, research, discussions with other investors, and several CA attorneys since they all have varying answers, perspectives, etc...  

The other perspective would be to take out some equity and buy more rentals.

I really appreciate your perspectives and that is why I posted this to the forum.