It's possible that your new tenant could object that the person filing the eviction  (you), isn’t the original person who gave notice  (original owner ). 

The required 10 day delay is solely for them to file an objection, to some defect in the foreclosure process, which would require a  hearing to move forward.

And, honestly, whether or not there are better places to invest in rentals depends entirely on your objectives.  

One of the biggest objections I get from sellers is thisSeller: "yeah you sent me this letter about my property at 123 Main Street"Me: "yes thank you for responding blah blah"Seller: "so what is your offer"That seems to happen more times than not.Question 1: is the offer price in the letter a good strategyQuestion 2: if not, how do you overcome that objection from the seller

I've No objection to your strategy.

As long as you can achieve your ROI objectives and you aren't overpaying or buying in an already overheated market, then I wouldn't wait.

I doubt whether my opinion or yours could be objectively verified but if you have any statistics or documents to back up your ideas on this subject I would welcome that (although I actually don't have anything concrete to backup what I am saying ;)P.S.

That's great incentive right up front.Keep in mind, some renters when moving have to come up with another security deposit to move into their new place,  then wait for the return of their previous security return along with the damage report.Might suggest you could work something out with their new landlord and forward their security deposit... that's a little creative... but only if they object or ask about it.For me, I never offer money, and I've never had a renter ask for money to move.I use explanations like; moving now would be better than worrying about moving later, or, finding another place now would be much nicer than the all the busy work that has to be completed here.Good luck on that.Be sure to let us know how it works out for you Matthew.

You'll need the PIN of the property. http://cookrecorder.com/You may want to ask for a warranty deed & offer to pay for the the title search & insurance, especially if your objective is to wholesale the deal to someone else.  

Main objective is to cash flow as it's somewhat difficult to cash flow in my area.