Those were pretty typical market rents for that area.

Going in I knew it was tenant occupied but on a month to month (but paying weekly) and it was a fast close and typically I deal with any inherited tenant situation while still in escrow and have some kind of contingency/agreement in place for that but I bought through a wholesaler this time and it was basically a no contingency deal.

For your language then, for scripts - We typically get you cashed out either way and many of ours are appraising significantly higher but what's the worst case - you and I come back and renegotiate. 

Typically when I hear about other investors speaking with motivated sellers its in regards to wanting to get out of the home BEFORE the foreclosure process happens.

But, unless I'm mistaken, you typically buy for cash right there at the auction without a title search involved, although this may depend on location. 

Expenses on a rental property typically run 40% to 60% over the long run and that does not include your debt service.

I have not, but many localities have programs for residents if your income is low enough, typically I would expect that this would only apply to a primary residence. 

The selling agent made a big speech when I met her last week about how people who rent rooms typically don't have much money (no kidding).

Maybe I do not do the BRRRR right also...I have done the BRRRR process a few times and I have never got all of my initial investment and all of my rehab costs even when the BRRRR has been assisted by market appreciation.The hurdles:Low appraisals for refinancing at least in San DiegoTypically limited to 75% or lower LTVCosts of San Diego rehabsI typically get my initial purchase costs back and some of the rehab costs. 

Or can I follow the typical, "I buy houses 1(XXX) XXX XXXX // Fast Cash Offer // 30 Day Close".