@Travis Marko There are several skip tracing companies out there.

A life span/cost analysis will show this.  

You can also check meetup.com or search Facebook for real estate investment groups, clubs, or meetings in your area.

Those are called "REO"(Real Estate Owned) (as you pointed out), not foreclosures.

The challenge is, I’m not familiar with the local market—or the Mississippi market in general.Does anyone have insight into the market in this area or know of investors interested in properties in western Mississippi?

I feel so fortunate to have found BiggerPockets, as it’s been a goldmine of information and resources.Currently, I’m leaning towards the BRRRR strategy as my primary niche.

This has got me thinking if my cash would be more valuable out of state.

How do you price out an individual room vs the entire house?

You make this election when filing your federal income tax return.

In short, don't be scared of someone buying a project out from under you.