Interested in buying REO houses

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In addition to flipping, I am seriously considering adding some rentals to my strategy. Im now dealing with a short sale that I have been planning to flip. However, if the owners flake out on me and dont complete the paperwork, then I might just buy it myself directly from the bank to use as a rental. The property should lease quickly and stay rented based on the area. Its a bit out of my area however, but it is shaping up to be a good deal either way.

My strategy for rentals is to simply buy houses at a discount that will cash flow, hold them for a few years, then sell them.