Most junior lien holders that initiate foreclosure, do it for one of two purposes. 1) because they have ran the numbers and know that if it reverts back to them, there is sufficient equity to pay off the first and then sell it on the open market to recover their expenditures. 2) (My favorite) is to catch unsuspecting bidders asleep at the wheel, that will bid, and then take them out (junior lien holder) and then be faced with the senior.

The ugly ones sit on the market longer...of course those are my favorite. 

Monopoly was always my favorite board game. 

However, with the quoted rate often being an average, what are your favorite resources to delve deeper into the components of the average? 

If I found myself owning a house with a negative cash flow that I didn't want to sell at market value and take a loss on, the first thing I would look at doing would be to sell it to someone on a lease option.Usually it works like this, I find someone who has income but some credit problems that wants to buy a house.They are willing to pay more in monthly payments and I hold the extra money and apply it to their down payment.I work with them for the next few years to clean up their credit.Then when they have built up a down payment, I have their credit cleaned up and I take them to a bank and get them a new loan and they purchase the house.That's my favorite way to sell a house for more than market value.It's a win-win situation for everyone.

@Chancellor SwanTwo of my favorite books:Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth by Larry Loftis andBuilding Wealth One House at a Time, 2nd Edition by John W.

One of my favorite posts in this thread as I feel like you have articulated it perfectly.

@Mario Gonzalez - My favorite strategy is buying a single family house that’s too big and renting 2-4 bedrooms to single working professionals, and that’s primarily because my favorite areas don’t have duplexes for sale.

Typical stuff I see in the 1% space are too old, built in the 50s and 60s which aren't my favorites.

Each location is colored and corresponds to an area classification of A thru F.