There is no one size fits all answer for this question, market to market, and property to property are all different. 

Yes, this strategy is possible!

Hello Doug, I am not a real estate attorney nor is this legal advice.Unless someone's state has specific laws banning contract assignments you should be fine doing the following.  

Try creating your own list.For pre-foreclosure, you want to market to them.

This is critical.

I found this out after several victims skipped traced me and called me at my real phone number.A search of the scammer’s phone number indicated it was used on other fake websites to falsely represent other legit lenders, as well.

Thank you for the thorough reply, I am not trying to scam- that is why I posted here instead of making her an offer that came across that way.

. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

Hopefully I am not being too ambitious given this would be my first ever home purchase.

My plan is to take the next six months to try and learn as much as possible about multifamily real estate, while also saving up money to be able to start a career in brokerage.