My goal is to retire off of my monthly rental profits and my target number is $11K per month. 

In my experience, 30 day to 3 month leases are the most common unless you're working with insurance placements which can certainly be longer.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

It works well if the goal is to minimize closing costs and keep these properties in the long hall. 

Like @Russell Brazil, I think it's never a bad time to acquire another property, but not if its prevents you from your larger goal (which seems to be buying that dream home).

I'm newly married, and my goal is to get a first property for rental investment. 

A program like PriceLabs also seems like a simple way to make sure pricing stays competitive without having to manually be on top of it.The goal would be to hand this off to a property manager after 90 days or so once we feel confident things can run smoothly with us moving away to the next project.Open to any and all ideas!

I don't have any specific goals set yet.

Not sure what your goal is but before you start messing with homeowners in default (regardless of what stage), you might want to read up on the foreclosure laws in the state you are trying to do business in.

Whether you should do arbitrage depends on your goal in doing it.