It’s finding the right educated/experienced contractor to pull it all together is the trick. 

I'll pull the trigger on that!

My initial propose for obtaining a license was to pull comps myself and make my own offers.

In any case, when I searched for the owner’s name, I came up with the 2 mortgages but nothing else.Also, I saw that the same property was put up for auction last year and then removed – is it likely that the owner paid off what was owed then and fell behind again or do banks just arbitrarily pull properties off the auction block?

I have spoken with tenant and we will quickly get something written up with all of the terms to make sure they don't pull a fast one.

Imminent foreclosure, estate properties, out-of-state owner who can't/doesn't want to be a landlord any longer.Another thing to keep in mind about BRRRR, you don't necessarily have to pull every dollar out at refinancing.

However, between my partners and I, we each received 1/3 of the cash we pulled out and are now each paying 1/3 of the mortgage each month (hopefully that all makes sense).

The only reason I am not pulling out of our place is that we put down 10,000 for new floors and applicances.1. wonder if anyone was ever in a similar situation and what they did or would do?

Any recommendations on how to stablize property without power until I can get in, turn on power and dry the place out and pull carpets etc...

ALWAYS ALWAYS ALWAYS get your pre-approval letter BEFORE looking at properties IF you are a serious buyer who is ready to pull the trigger.