Since 20 days notice is required, the next foreclosure date will be the first Tuesday of the month following the expiration of 20 days (foreclosures in Texas are all carried out the first Tuesday of every month).The trustee will charge for this service, which includes notification, by both regular and certified mail to the borrower, filing of notice of intent to foreclose with the County, and holding the trustee sale (auction) on the prescribed date.

My ultimate goal is to acquire enough rental properties that will produce enough positive cash flow so my family will be financially free.I'm looking forward to learning and networking with everyone here. 

In general, I'd just posit that "deal source" should not be conflated with "deal quality".

The property is currently being rented for $2,400 with an immediate positive cash flow of $1,000.

Monthly mortgage payment for 30 years with 4.5% interest rate is about $1,400 (total monthly).The property is currently being rented for $2,400 with an immediate positive cash flow of $1,000.

In this case it sullies (in my opinion) their reputation, is a huge waste of time, and might implicitly validate a strategy that won't yield a positive result.  

Don't rationalize any numbers, or use anything other than cash (i.e. equity, appreciated gain, tax deductions, ...) since those other items are NOT CASH.3 - If you have a negative number, that means you get more cash back in your deal, within the first year, than you spent (so in this case...used)...and you have a winner.4 - If you have a positive number, that means you have spent money to buy this property...your money.5 - If you fall into the #3 category, you have recovered all your initial cash (seed money).  

Be Obsessed or Be Average by @Grant CardoneI have so much more to recommend but I have to say the books above have created such a positive impact on my life!

Lastly, if your able to buy using the 1% rule you have enough built in positive cash flow that will enable to ride out the downturn.

But how do the investments go from negative to positive 6%?