This provides the accommodation for tenants who are less able to remove their belongings in a short period. 

While I do want to re-leverage with LOCs, I will go through a period where I'm continually decreasing my return. 

make sure you are  100% pre approved  so you can make strong offers and use short closing periods on any offers you present 

The issues you described can all be solved with money so you could give the seller the option of you walking during the inspection period or purchasing at a lower price.

Any Sale (or Lease if § 3.6.2 is checked) of the Property within 180 calendar days after the Listing Period expires (Holdover Period) (1) to anyone with whom Broker negotiated and (2) whose name was submitted, in writing, to Seller by Broker during the Listing Period (Submitted Prospect).

The property owner has a set amount of time to pay their delinquent taxes (redemption period), if they do not, you can take ownership of the property.A tax deed is where you buy the property directly from the county and take ownership right away.Please check specifics for FL.Either way you are "taking care of the taxes" and would not need to "pay the owner" anything. 

Do you contact people by mail, finding distressed buyers would make the most sense, there's plenty of pre-foreclosures.I'd probably shoot for a BRRRR, most likely a buy and hold for 5 years flip while renting, I'll be living in the property since I only have FHA(3.5% down) / Rural financing (0% down) / Home Ready (3% down) loans I'm clearly very hesitant about the Utah market because it's so overpriced, but people are still buying so maybe I just don't know something.Side Note* I was looking for a rundown shabby home in the sugarhouse / U of U area because I rented in that area for a period of time and Google Fiber is honestly amazing and Comcast internet sucks. :)I use rental property calc for a lot of my calculations should I only care of the IRR if the cash-flow is Negative?

Its particularly tricky if you take a rental out of service for a prolong period, then rent it out again.

I guess I’ll just set my expectations to a 4-month grace period before I start following up.

I think these are way less scary than the pier and beam variety, but maybe that is just me.You then have to let the house settle for some period of time before you really set about your renovations, but you can still use the time to rip out old stuff, get your materials ordered, and gather bids from contractors - all things you'll need to do anyway.