Hi Neeraj,To my newbie understanding, there are plenty of resources to find foreclosures including the marketplace here on BP, specialized websites such as realtors.com, multiple listings such as foreclosure.com. 

There are plenty of prospective renters to rent for $650-850 per room, and you get hands on experience dealing with tenant issues, common house rules, leases, etc.   

I would suggest giving yourself plenty of room / time to get the refinance.If this is your first time dealing with this do a lot of research. 

With smaller units, there is plenty of inventory and competition, not only with similar properties, but with hotels.

@Mark Spritz I’ve bought plenty of properties in cleveland heights,.

Realtor; 2 years to establish yourself (I know plenty of agents who make it big their first year), year 3 and 4 establishes qualified income for lending.

Outside of massive regulatory interference- like you get in a city like Portland, OR, or Berkeley, CA, you can make good money in most markets- and to be fair- there are plenty of people making money in those markets as well.

Schlage holds 100 unique codes, which is plenty for our purposes. 

New Properties in Hingham, MA go for double the price per square footage so I saw plenty of meat on the bone.

@Junji YokotaGoogle "no doc loans" No doc stated income and there's plenty of lenders out there.Alternatively you can contact a mortgage broker who'll hook you up with one though they charge you fees.