If they're mid-sixties they are or should soon be eligible for social security, if they're covered. 

Generally week one would consist of securing the property,  starting utilities in the correct sequence according to season, insurance and any urgent repairs. 

Only owner occupants can claim homestead exemption as well as only one per Social Security Number.

You still can but just keep in mind it's easier if you wait for a recession.I'm a big fan of both methods you mentioned.

I know BP has their own calculator and methods but what we do is just build in a 15% of gross rent multiplier that encompasses capEx, vacancy, deferred maintenance, etc.

Would be nice to Converse about your method whether it’s buying hold or if it is more of a weekly trade or daily trade process.

We are in the midst of securing a HELOC that we intend to use to pursue a BRRRR deal(s).

Thats seems to be the easiest method.

I wanted to develop a quick conservative method of weeding out properties so I wasn’t wasting my time.  

As a check spot check, we recently secured an off market property where previous tenant pulled all plumbing and wiring through sheet rock which required a full house re-plumb and re-wire.