Short Sale help?!! Im buying a bank owned property

[Jerry Brecko]

Im looking at a property that has been listed for 220 days. I just made an offer and found out it was bank owned. They also said it will go into short sale soon.

Ive never bought a bank owned property before.  Should I try to buy pre short sale or wait for it to go into short sale?   

Now that I know its bank owned and will do into short sale soon, are there specific strategies I should use to get this property at lower cost?