SHORT SALE: Buying thru RE Agent VS. Direct Seller/Bank, HELP PLEASE

[Joe Ward]

Hi guys! I am really excited about this forum and all the help I hope to receive from the members here to become a successful real estate investor! I have been in the process of Analyzing and viewing 3-flats in a pretty nice town in the Chicago-land suburbs. I really want to start making offers on these units that are primarily Short Sales. Here are my few questions that I hope you guys can give me some tips on:

First: is it a waste of time to put in an offer through the agent listing the property? I know if it is listed by an Agent I have to go through the Agent, but is it even worth it or is this just going to take FOREVER to even be acknowledged by the bank and at that point most likely denied if I come in too low? Any other tips if I do put in an offer through the selling agent?

Is it imperative to find the short sale myself that isn't listed by an Agent yet and go directly to the owner (getting a letter of auth and hardship) and then going directly to the banker with an appraisal, letter showing what owner owes, owners income vs. expenses, owners negative assets, the signed contract from me to the owner and a check in hand to buy the property for about 70% of what I feel the FMV is (not the appraised value which will be higher)

Next if you feel I should go directly to the banker is there anything you would suggest to also have in my arsenal that I am missing? Any other tips with going directly to a banker or how to do this properly?

Will the banker even deal with me directly or am I kidding myself?

What is the best way to find these short sales before they are listed with a selling agent and put up on the MLS?

Thank you very much in advance for your help. I would like to put in 2 offers this week with the agent who I have been working with but need to know if it's even worth it or what else I can do?....Joe W.