Subject to seems to be more ideal to avoid any confusion over ownership, but it sounds like a pretty involved process that could cost time and money (whereas the other approach is free and simple).Any insights/advice would be appreciated!

Also, there are tons of home-grown (free, shared) calculators other investors have created if you Google for "Investment Property Calculator".Analyzing The Deals - You, the investor, need to put on your blinders and practice underwriting (running the numbers) before you jump into a competitive offer scenario, or getting too far in front of your skiis with an off-market deal.  

@Breeze Xue Despite what you hear about tax sales they can be extremely competitive.

What are the new costs, terms, conditions, years?

@Sonya Gulka DFW is a good market for appreciation right now, but also very competitive.  

Look for places that are investor friendly, have expanding growth and still have a relatively low housing cost such as Florida. 

It helps you learn landlording on-site and also offsets the costs and your living.

If you are self-managing, it is imperative that you are staying on top of rates; your property has to be market competitive to get bookings.

They knew the laws, they corresponded with the tenants, and they sent notices and evictions.Did it cost money?

Charge what it costs, but I agree try to find something that is less expensive (eg $50).