Most auctions will require cash, so unless you have deep pockets, that option will probably have to wait until you get your empire rolling. 

This one won't last, call or email us today get pre-qualified before it hits the market!

I happen to know a gentleman who is a good handyman with at least 10 properties on his rental roll. 

@Daniel Kidd Good job on getting started to get the ball rolling, keep that momentum.  

For this particular project I have estimated all rent-roll based on section 8 rates which is also suitable for the area.

What you saw is a notice of default showing those who are behind with loan payments etc,These are pre-foreclosures meaning they are behind with a couple payments.

Some of the concepts roll over to multi family as wellSome costs during operating period including but not limited-Initial Phase-Leasing commission one time for 1st month( if using broker) (depend on broker fee structure)Property mgt fees (depend on broker fee structure)Landscape costsRekeying your house or change locksCleaning property Vacancy Any repairs During occupancy-TaxesInsurance Property mgt fees (not included if you're managing)RepairsRental permit (depends on city)Feel free to ask any questions -Kevin

I am taking an online Pre-licensing course and I am about 2/3 of the way through it.

@Mack Bailey first see if you can qualify for HomePossible with 5% down, FHA has also an upfront mortgage ins of 1.75% of the loan amount that gets rolled in though ideally is to get your 1st MF with FHA and second with Freddie since FHA doesn’t allow use of rental income on other properties you own within a 100 miles radius.

A realtor can find the owner name through Geowarehouse, or you can often get the owner's information from the tax rolls from the city, though you pretty much always would need to go in person.