I went with a local bank and they actually don’t have a seasoning period, which is the main reason I chose them.

As best as I can tell (unless anyone has any ideas on how I might purchase something before it actually gets to auction), I will have to be the winning bidder here.

@Rickey Wiley When it comes to foreclosure auctions, you need to have the cash before you actually have the property (you have to pay right when you bid).

One, actual formation or setting up a LLC (paperwork) is quick, can happen within 24 hours.

The building is actually a fully rehabbed coach house (5 years ago), the original main living structure was removed.

And I might be missing things.The actual title search might only take a few days, but add everything together and it can add up to a couple of months or more, especially when you are dealing with a bank.By the way, I'm a cash, as-is buyer in Western NY--mostly around Rochester. 

You will need to be very careful though as the areas vary, not only by blocks but actually street by street.What your looking to spend and your safety level will dictate more of what areas to look into.   

I actually did take a look but I feel lIke my market in Fl wood be a better bet I am strongly looking in Tampa and Orlando Areas I really Appreciate you pointing me in that Direction

Right now I have a hour long commute and I actually enjoy it I guess I’m one of the few lol.

Then the next big question is how will you finance the deal, just given the NOI and revenue/expense ratio the deal should cash flow, but looking at actual debt service will make the picture a little more clear.Other numbers I don't see that may be baked in are vacancy, reserves, management fee (even if you plan to self manage).That all being said, it could be a great deal but need to know more.