We closed yesterday on our first STR and we are heading out there on Fri (from ATL) to actually go inside.

Your research on Oklahoma is actually reflective of 95% of the United States with regard to cash flow.  

Actually, contrary to many people's beliefs, most mortgages in the US are recourse as well apart from few states, and/or how the mortgage is written. 

We are actually waterfront to a large creek (small river size).I'm located in Warren, Pennsylvania.Comps sold for ($129,900)/($125,000)/($87,000(needed two new bathrooms))/($114,000)/($225,000)/($103,000).  

In my mind until they are lost they are all pre foreclosure.. when I chased these in earnest before the very strict  laws were put into place to make this activity very dicy we bought all of ours within 24 hours to 5 days of the actual sale at the steps. that's were you got the good deals.. if your mailing or contacting them with just the notice of default your going to not do very well at all.. they are not properly motivated at that point and you will waste a ton of time and money chasing those deals Along with most of these will have very little equity if any..

The extra bedroom May increase interest in the property, but when people actually walk through the house and see how small the room is and that they will have to go to the garage to do laundry I do not believe it would help the sale in most cases. 

Don't wait for interest rates to drop - if they drop enough you can always refinance and improve the deal's performance.We are continuing to buy if the deals meet our criteria - the problem is that it is tough to find deals that actually meet our requirements :)

I’m new to fix and flipping I may have came across a deal and was wondering if anyone could help me out with it make sure I’m not the right track before I actually start.

I don’t know about the 2 year calendar, probably the day you actually inherit.

Continually learning but ready to stop with the information overload and start with some actual progress.