Hi Patrick and welcome to BP.I always like to say that good deals can be found anywhere in the US.Its harder to find the right people to do the deals with lollolWe are based in Ohio and are finding some amazing undervalued properties.Ohio and Michigan possess stigma's due to higher than average unemployment and "declining population".I do believe that these 2 states have lots of potential as soon as manufacturing jobs return to the rust belt.Indiana, Kansas, Missouri are some other sports with great numbers.Thanks for reading and have a great day.

Anyway, the major "con" for me is that low income properties will possess more headaches w/ evictions and maintenance.

With the mortgage deed legal title is held by the bank and the party possessing the property has equitable title up until the loan debt is paid.I forget that a lot of people in this forum are from other parts of the country where the mortgage is an actual lien on the property where the owner has legal title.On a side note I am thinking about buying your book on flipping houses soon.

Do a quit claim deedquitclaim deed The entity transferring its interest is called the grantorUnlike most other property deeds, a quitclaim deed "contains no title covenant and thus offers the grantee no warranty as to the status of the property title";[2] the "grantee is entitled ONLY to whatever interest the grantor actually possesses at the time the transfer" occurs.[3]

This can vary by state/jurisdiction, but an eviction (Unlawful Detainer) is typically the process by which a landlord seeks to have a tenant removed from a property that they continue to occupy/use/have possession of in violation of the lease. 

Kinda the worst of both your scenarios, plus one you didn't mention: long term tenant, followed by a long vacancy - one month before we have legal possession and have removed their chattel and 4-6 weeks beyond to refurbish the property ... we'll be lucky to have it rented by Jan.

If you succeed, you will get possession of your unit sooner and less expensively than going through a full-blown eviction.

Keep in mind you will have to provide the labor to move the tenants possessions to the curb

They seem to be much more profitable, dollar for dollar invested, than single family properties and possess a number of advantages from the investor's POV.

No, do not give any time, they need to move out and if don't, get the writ of possession.