Buying a short sale that is not listed.

[Michael Lee]

A friend of mine owes more to the bank than what his property is worth. He is having problems keeping up with the bills and mortgage. From an investor standpoint, what can be done to help him out? I would like to buy his property from him, in order to flip or rent out, but have no idea what the best way to do this would be. Would the sellers have to go through the short sale process first? Any help would be greatly appreciated. Thanks.

(To bring in people with Keyword Alerts) We are currently living in Las Vegas, Nevada. This is in regards to a short sale question that i have. Is there anything illegal that I have to worry about?