His timeline was about 10 years, the same as mine.

If true, and it sounds reasonable, a bank pays about 2.5k for one of those foreclosure mill attorney offices to get all the way to posting a foreclosure at the courthouse in Texas which is non-judicial and has a pretty quick timeline.  

Total time should be anywhere between I would say 3 weeks to 2 months (major project)assuming you order things in time to make your timeline.

What was the timeline? 

Vacant or improved, the process and consequences are identical.Each State can have variation, especially in the time line, but:unpaid tax billings will produce a some point create a Tax Lien on the property, not the owner.after X years, the existing owner will get a Notice of Tax Sale and a date of the auctionIf the property is sold, the "punishment" is loss of the property and I've been told, there's no reporting to a Credit agency. 

On a cookie cutter refinance transaction, you can day-trade if you wish because it's 100% on your timeline.

But I didn't see any mention before of the three year timeline, so you're right, there wouldn't be an issue with timing either way if it's three years down the road.Yes, there are portfolio loans and private money that will primarily consider the strength of the cash flow on each property, once you have a stabilized two year rental history.

So let's say $100k loan at 12% APR and 4 points for a project with a 6 month timeline.

Your timeline and eventual exit strategy and your "why?"

I think a 2 to 3 month timeline is very doable in this instance for sweat equity.