This way you won't be going after the wrong type of property.When you start to develop contacts with real buyers, they will tell you precisely what they are interested in, helping you narrow down your search. 

It is precisely why we require a face to face meeting with our so called "newbie investors."  

This is precisely what I did when I got started. 

You are precisely right it is very important to be ready when the deal presents itself

So really it wouldn't hurt to try.This was going to be my suggestion precisely but I will add a couple items.  1) As others have stated the chance of getting any of the money owed is low 2).