Things that look good on paper aren't always what they appear.

I spoke with two foreclosure/short sale experts at my meeting tonight, but didn't have time to engage in an in-depth conversation... so their advice was simply "Just get the deal on paper first -- get them to sign it over to you before doing anything else."

By you claiming no knowledge, that have to completely validate all papers.

I have read about issues with the paint causing you to go through a lot of sand paper.

You could put an ad in the paper and sell it in a flash for $50K.

I expect the moderators will have a comment.You should Google, this site and the local news papers for RE investor meetings in your area.

I have had it on the MLS and other papers for a few weeks with no calls, so I began to lower the price.

Go through your local news papers and send LOI or residential purchase contracts, I prefer LOI's and you will get a lot of calls from Realtors that never seen an LOI before and may say they can not present the offer.

Granted, I am just beginning, so there will be better deals, but on paper it seems like it could work out.

If you feel you are confused having an LLC is not going to improve the situation.Get out a sheet of paper and create an ordered list of all the steps from what you remember.