But it's slim pickings indeed.

The chance of your worst case scenarios is very very slim.

@Akshay Johar You might could find some condos or attached homes or manufactured homes in that price range in those areas, but the good pickens are slim to gone.  

$44k gross profit to me isn't slim; so I just need some insight on how to sign up the deal, especially with the bk mechanics lien in place.

Once you analyze your actual return on this my guess is that your return would be very slim unless this deal is tremendous.

How was it that you ended up with such a slim margin? 

I was thinking I would purchase cash from a hard money lender and list on the mls. 120k is slim margins but a potential for 10k in profit assuming it sold quickly with realtor commissions. 135k would be more than worth it.

I know it is slim pickings right now and I'll need to diversify my strategy outside the MLS. 

I was thinking more along the lines as a fix and flip to a first time homebuyer but it sounds like that market of buyers maybe slim.   

We can likely get the savings up to that level within the next year but even with a good down payment, the pickings are somewhat slim as most of the units I've looked at are asking too much to make the deal work.