I would want to get in under contract and flip for a small fee.

The flood zones for this property is as follows: Zoned AE which are areas of inundation by the 1% annual flood chance with 2% chance of wave run up with elevations less than 3 feet above the ground.

Tax Liens and mortgage note trades are becoming more and more wide spread as the housing market tightens up and is inundated with new investors.

Fannie will do them only if you have four or fewer financed properties OR if you're doing it in under six months from the purchase. 

I would think you would need to come in under market not top of market. 

@William Hochstedler What types of properties are coming in under $50,000?

Yeah I know $50K may not generate the most desirable neighborhoods but once a I heard “BP Podcast #54: Investing in Under $30K Real Estate” and countless others…I know it can be done!

To cash out:- in under 6 months post acquisition you'll need to have purchased the property cash and it's allowed up to 70% of market value up to your acquisition cost- 6-12 months it's allowed up to 75% based on lower of market or acquisition- 12 + months it's based on 75% of market valueThe above assumes conventional financing, you have acceptable fico scores, you have 6 months of reserves or more for your rehab, and your income is sufficient which is too much to get into on a blog response.

I then changed gears and started calling to report a person who had bought OO and is now selling in under a year They transfered me around, I left voice mails, Then someone told me I have to send a hand written letter to some out of state place to notify them.

Very few people are going to drop their price in under 30 days & if their agents now they are looking to liquidate fast then it is already going to be marketed at a lower price to encourage a multi-offer situation.Here are some thoughts.Short sales are still selling at a discount, make a offer on every shortsale that comes up.