Still no Bonanza; but picked up a couple of solid buys last year-strictly cash flow.

I do not own the property, i am a newbie investor trying to understand what is needed to basically get a house under a lease with option to purchase contract and assign my position to someone who cant qualify for a loan due to there current position but but are willing to pay a little extra on this lease agreement because they are serious about picking up there credit score and at the end, actually closing on the house.

Eager to get into real-estate, I began to research and pick up anything I could learn about it.

Was feelin super down in the dumps today and this was the perfect pick-up.

I would suggest you learn about some strategies first before you pick the one you want to delve into.Attend local REIA meetings and connect with like-minded investors: http://www.biggerpockets.com/meetRead the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingListen to the BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

@Shital Thakkar.... do you think it will pick back up?

Perhaps a tax lien may get slapped on it and you can pick it up. 

Any advice, experiences, or thoughts would be helpful before we finally pick a location. 

@Rich Pierro - here is a link to the forms provided by the state of Colorado Real Estate Commission You will pick based on the transaction type.

Pick 2 or 3 areas that you think you might like to invest and live in, then drive those areas on the weekends and evenings.