As far as thinking about what makes the most sense over time, I'd recommend checking out the BP blog posts on "internal rate of return" (IRR) if you haven't already - that measure is designed specifically to factor in time, and I've found the articles on it quite helpful.Good luck!

Here is an excerpt from an article on the subject that I believe breaks this down fairly well:Gain, to the extent of the depreciation claimed that exceeds what would have been allowable under straight-line depreciation, will be recaptured as ordinary income, and, thus, taxed at rates as high as 35% in 2003 and later years (ordinary income rates), but the amount of excess depreciation subject to recapture may be less for certain low-income housingGain, to the extent of the depreciation that isn't recaptured as ordinary income, will be taxed at a rate of 25%.The balance of the gain will be taxed at a rate of 15%Example – In January 1986, you paid $1.3 million for an apartment building (not a low-income building), of which $1 million was allocated to the improvements.

See this article for more information.  

Is there any book or article that you recommend that gives me a thorough understanding of the foreclosure process?

Is it dangerous if I do not physically drive there and view the house?

This recent article got me thinking a bit more about our market here.https://www.marketwatch.com/story/renting-is-more-affordable-than-buying-in-47-of-these-housing-markets-and-they-tend-to-have-one-thing-in-common-2020-01-10Currently there are 2476 homes for rent in the OKC Metro for less than $1400 per month. 

This means that you will need to pay registration and filing fees in at least 2 states if you don’t buy CA property.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfBe sure to tell your accountant that you now need to file non-resident income tax returns in each state where you own property as well.

A rehabbed property is where the property was physically distressed and it's all been repaired.

@Samuel JoinerI would read thousands of articles and blog posts right here on BP.

But his article did not list them as elligible, although it didn't say explicitly they weren't, and I have read many threads where people say they purchase SFR's with commercial loans routinely.