The plan is that I would refinance after the property rehab to pay off the HELOC and the rehab costs, then probably just keep it as a DSCR loan or refi into a 20% down conventional.

This year we plan on doing several spec houses assuming we can get financing lined up.

- What do you recommend as my game plan to land my first rental property within 12 months? 

Conventional route would work for your 4-unit plan, you on't have to worry about a self-sufficency test going that route like you would with FHA.

It is my understanding that if you enter into the lease knowing of the foreclosure and placing a tenant anyway, then the lease is essentially deemed invalid as you and the tenant knew that it was a matter of time before they were evicted.Also there is an assignment of rents in residential mortgages as well, and doing this may open you up to a lawsuit by the mortgage holder since you essentially stole potential rent from them.And finally if the plan is actually to buy an HOA lien and wait until a foreclosure, I think that falls under unethical practices and would never do that, or encourage anyone else to either.

- What kind of plan are you buying?

Despite its awful reputation, I see great potential due to its proximity to key attractions.I'm reaching out to ask: Are there any plans to revitalize this neighborhood?

You just need a plan to pay it off. 

Also I'm planning to move away in 4 years ish (aiming to go to Central Florida, but it also can change).

My background is in healthcare administration and revenue cycle management  but the past year I have telling myself, I want more from myself which is when I decided to learn and participate in REI.