So, what to do? Simply, you must use someones other hard work and thinking. People have already contemplated all possible variations, synonyms, they know how domain names are valued, know about keywords, type-in traffic etc. Every day tens of thousands domains names are expiring. Every single day. That is hell of a lot expired domains to pick from. The reasons why people "let" domains expire are various. Could be somethins as banal as forgeting to renew, could be as serious as physical death. Many let domains expire because they don't need them any more. But that is not your bussiness to think about.
If you are pursuing option 1, then you will want to use an automated service for the reasons mentioned in the article. Follow the process in the article to see which registrar the domain name is located at. If it’s at a Auction House like GoDaddy, NameJet or SnapNames, I believe they publicly share if there is a backorder on a domain name but not who placed that backorder. (Any interest in a domain name may be enough for someone else to place a backorder, thereby driving interest in the domain name that may be visible to the registrant.) So if the domain is at a registrar partnered with one of these companies, then you’ll have to monitor it manually (via calendar entries based on the whois expiration data) to maintain your distance.
Domain name search results appear as you type. We can do domain lookups very quickly, and usually show domain search results in less than 100 milliseconds. We generate domain names and check .com and many other domain extensions instantly. We use artificial intelligence techniques to find domains for sale that you can buy today and expired domains to backorder. Just start typing!
If you buy a dropped domain from Snap or Namejet, the backlinks seem to be worthless for SEO.  They are valuable for traffic if it's targeted to your site.  Go ahead and 301 redirect into your site because it's the traffic from the back links that is worth something.  I use the Google URL builder to redirect these names so you can see the domain the traffic is coming from.
Yes, we port in all of the domains from NameJet, SnapNames, etc. There are a lot of great deals to be found. Some are absolute trash of course but if you can sift through them and put some time in (hopefully that is what we are trying to do with our tools is save time and give some value add with the SEO metrics, alerts, etc.) then you can find some great bargains.
If you *really* want to be sure the auction partner is NameJet (because it’s a name you cannot afford to lose in the drop), you can email the technical support team at SRSPLUS and ask them if they follow the same expiration/auction procedures as Network Solutions. Be specific and ask, “Will the domain name, (fill in), expire and be available for auction on NameJet.com as the process is listed at https://www.domainsherpa.com/how-to-grab-an-expiring-domain-name/?”
We do not only have Expired Domains, but you can also find lists of Deleted Domains for a lot of TLDs. Deleted Domains or Dropped Domains are available for registration and can be picked up for just the normal regfee at your preferred domain registrar! All Domains have the typical SEO relevant data, like Number of Backlinks, Archive.org Birth Date and a lot more.
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