But if you decide to wait for the sale and be a participant in the tax auction, some counties have online tax sales, you can wipe not only your own mortgage but also the second and any liens that your borrower may have accumulated including but not limited to IRS liens and then move into REO by Tax Sale/Sherrif Deed. 

All the profits pass through up to my holding LLC and profits expenses as much as possible in each layer to limit taxes.

I have limited construction / rehab experience and I'm wondering If I should be hiring a General Contractor to do the work or finding each individual person myself and acting as the GC.How do some of you handle getting the work done?

Do you have any recommendations on an agency that would sponsor me on the licensee knowing that I'm not going to be actively working as a buyers/seller's agent other than on a limited part-time basis?

A scope of work provided with an application is clearly an estimate as you can't see behind the walls/ know to the dollar what things will cost etc. 2) do all HMLs require inspections and appraisals (therefore you must keep these contingencies and make your offer less attractive vs cash buyers)?

A lot of YT investors talk about a minimum of 10% cap rate.Since I don't come from the "real world" experience, and all I know is what I've heard from somebody else, is this "minimum of 10% cap rate" rarely applicable?

This does have some limitations in that cannot stop them from doing partial payments, which could be a problem if they are facing eviction, etc— but if this is an issue then I guess can just return the money to them without jeopardizing your eviction time frame etc, as long as you have clearly said that no partial payments accepted.

The practice you get from analyzing deals will help to ensure you don’t pay through the nose for your first deal so as long as you know your limits and don’t bite off a bigger project than you can handle, it should be a very positive and informative process.

We use the online rent payment system, the online application, the elease functionality, and the work order system extensively.

I would almost always say no, but govt jobs are so reliable, I’d consider it (especially if no other quality applicants right away).