Am I correct to assume I would tie up the property with a contract similar to any other transaction but have the offer contingent upon the bank accepting a short sale in the amount of $XXX,XXX?

Make it $155k and you pay realtor $xxx amount.

What works the best are HANDWRITTEN signs, yellow with fat black marker.Houses wanted -WE BUY HOUSESCASH OR TERMSFAST OFFER 24 Hoursxxx-xxx-xxxx

If tenants leave early they pay you $X,XXX.

It says they are paying $XXX as a deposit to hold the property with the understanding they will sign the lease and start renting on (DATE).

Were the spams xxx rated?

For example you can include language that says "Buy will pay an Earnest Money Deposit of $X,XXX that is payable to XYZ Title Company upon the close of escrow." 

There are probably more threads on here with the subject being “what to do with xxx dollars than I have units.

Your agent needs to have a talk with their agent to see what the deal is, more than likely if the place is cash flowing $2k per month the owner is not going to go anywhere near your price even if it needs work because he is making money.I have had decent luck with lower offers by negotiating verbally and be upfront "Hey I like the property but you and I are not on the same page with pricing, I am interested in the "$XX,XXX" ball park and I know you are probably not but my offer is here is you ever decide you need to sell.I still don't get it for that price but a good amount of the time I get a reply back that the lowest they are willing to go is...I just helped a client get a beat up tri-plex $30k under asking price with this method and last year I helped one of my clients get $45k off a property in a very hot area of town using the same strategy, I also set reminders on my calendar to go back to them every 2-3 weeks just to touch base and let them know my offer still stands.Hope this helps.

followed by, now, we agreed to $xxx dollars, correct.