@Timothy Woodland,As described by at the link @James C. provided, that's fairly typical of a foreclosure time line.In general, you need to be in touch with the foreclosing lender about bringing the loan current and stopping the foreclosure before you can buy the home from the current owner.

We typically have a GL that covers the company and our agent does a builders risk policy on each project.

I have one in Oregon that is just under 10 million and typical hard money rates are being quoted.. however frankly if you still cant make nice profit paying for HML or private money then the deal is probably to tight. if your talking 10 points and 20% then ya that would  be a little bit high.but 2 to 5 and 10 to 14 is in the all park.. for a HIGH risk horizontal loan.I just did one personally ( i was the lender) in Orlando and we were up there on the top end of what i am talking bout 30% apr  but the developer snag a great deal and will still make a few million on it while paying me 100k for a 700k loan he used for 7 months.. that seemed fair all around..

Since the typical value of a real-estate conversion is high, it makes it a good candidate for AdWords as well. 

A lot of buyers in search of turnkey want everything together in a nice tidy package, so to speak, and they're typically seeking it from someone whose business model it is to provide turnkey ... it's the package that makes it worth the premium price, not just the condition of the property or the fact that it's rented.

(Hypothetical Situation)149k asking price130k purchase price50k rehabARV value - need to confirm with my agent, but let's say 220kI'm just beginning discussions with banks so don't have a ton of knowledge, but figured I'd reach out to see if anyone has any advice/thoughts.1. 203k loan typically requires 3.5% down, PMI and for you to owner occupy for 12 months - is that correct?

I just started investing about 6 months ago and picked up my first rental typical 20% down conventional mortgage.

Each tax bill will have the owner's name an mailing address.You can try to google their name + address in the off-chance something will come up to get their phone number.As far as finding an accurate ARV - this is challenging and would typically require you to look at comparable sales for similar properties in the same area in the last 6 months or so.

As far as the information you have provided is concerned if you get 1K in rent and expenses are 50%, which is typical on a SFH, that leaves $500 to provide a return on your investment. 

Typically you are buying these turnkey properties out of state.