Warrant Deed on Pre-foreclosure

[Sharmyne Davis]

Hello Everyone,

I am new a real estate investing wholesaler. I sent yellow letters out on Pre-foreclosures list last week. A motivated seller contact me today. He do not want the property. Bal: $39,000, value $58,500, 2brm/1bed. I dnt know rehab amount yet, i have a meeting tomorrow. So I'm not sure if it worth flipping to a investor cause of the ARV.

Questions:

1. Should I keep for myself for rental & get warranty deed? if so is other paperwork  needed to complete the transaction.  (Need clear title) 

2.Any other ways to do this deal without money?

p.s.the mortgage would have to reinstated