Since you're an agent already, you can pursue deals and offer to list the home and if for some reason that isn't in their best interest, go the wholesale route.

This person has now waived all claims and rights to the property and it has been recorded against the property, however the tenants (4 out of 9) have pursued this person in a class action lawsuit.

Hey @Wesley Mitchell ,Sounds like you're indirectly pursuing the  BRRRR method; acquire a property, improve it, then refinance and get your money back (in this case it'd be 75% of the ARV after improvements) This would help you keep the house as well as attaining funds for your next investment.https://www.biggerpockets.com/renewsblog/category/...

Interestingly, there have been several BPO's done, with walk through and everything, and the highest, and most recent value came in at ~580K.The failed Short Sale was actually approved by the servicer for $480K.I suspect this has to do with the Non-Performing status of the mortgage, my mother's age, and Massachusetts being a tenant/occupant friendly state.I had to terminate the arrangement of this Short Sale when I finally acquired unbiased legal/realty counsel, and realized that the sizable return (700K - 475K = 225K) would not only be an act of fraud for us to receive, but that the buyer was likely misleading us into thinking we would get this money.Since then, I really started doing my research, and am very interested in pursuing Real Estate Investing thanks to all of the hard lessons I've learned.I organized an off market pool of cash investors, and showed the house and took offers. 

One thing you guys should pursue is a duplex-quadplex investing as this will give far greater Return on investment.

So in my head, I believe it'd work out and I will pursue this.

It is best to pursue off market deals or structure the agreement to where the realtor represents the buyer as well.

I have a few target sub-markets that I'd like to pursue. 

So it usually seems IMPOSSIBLE to find the time, energy or money to pursue it further, but we have both decided to dedicate ourselves towards the long-term goal of transitioning into successful, full-time investors.

Is it worth the money and is knowledge practical enough to pursue development process?