I am going to start to be more active in the forums here.

Mind set is key, as Rick said.

You want to have a discussion whether the property is considered 'active' or 'passive'If it is active, you can potentially accelerate the losses to offset your other forms of income.

Hey anyone/everyone...am I losing my mind? 

Time for the second to act was during the foreclosure sale bringing the first current then foreclosing on their second and taking title that way subject to the owners redemption rights on the second.this is how it would play out in Oregon Law.so with the information you have given if I wanted that property I would have approached the second tried to buy it for pennies on the dollar I would have cured the first then foreclosed out the second and no one bids ( which is generally the case ) and the property is mind subject to the first.

This^^ I would add that you need to be mindful of your basis for tax purposes going forward.

Getting into rental real estate investing has been on my mind for about a year or so and I’ve been consuming books, podcast, etc.

I've heard great things about both of these attorneys and will keep them in mind!

I used to live in Baltimore and have several friends that are actively investing there.

Do you qualify as actively participating in your STRs?