The experience you gain will be invaluable.Other than that, you can try to hustle a listing that will enable you to first off, sell it ... and while doing that begin building a list of potential buyers.

And, without a living owner, I don't see how you could buy it in pre-foreclosure subject to the existing loan.I think you'll have to wait until it comes back to the bank as an REO, assuming no one grabs it at the courthouse steps.One last idea: If it's a viable fix-and-flip, you might be able to get a cash buyer interested in bidding at auction, with you extracting a finder's fee for bringing the deal to their attention.

This enables us to get in and do a job quickly and efficiently.

We will still make more phone calls today so I hope the price will be bid up to where I want it to be.Regardless of the outcome, I want to share with you some of my secrets that enabled me and my real estate agent to get over 300 people (and over 20 offers) in an Open House when the average Open House is lucky to get 5 people.

Perhaps you could recommend any investors that could facilitate this transaction.For the past three years I've successfully studied & been involved with over 400 various industries as a designer & marketing consultant.Currently, everywhere you look people are buying and flipping real estate.It seems everyone is buying a home, fixing it up a little, and selling it almost immediately for a sizeable profit.We read about it in newspapers, online, and there were even television shows based on flipping houses.The flipping real estate business model works great.But here’s the good news for you . . .that same business model works in many other areas.You can flip non real estate assets just as easily, maybe easier than flipping houses.You can also use leveraged buy out techniques to alternatively buy & hold already existing businesses similar to properties also.Through the use of transactional funding I've realized that I could borrow a $250,000 swing loan from a bank, give that to the seller in morning.That would make the business mine.Then in the afternoon I could take all the assets that are in the business that I just bought and raise $360,000 (80% of $440,0000) the same day from an asset-based lender.Then I could take $250,000 of the $360,000 and instantly repay the transactional loan.Then, I'll have a $110,000 cash windfall in my bank account, which I could now use to run the business and pay myself a big bonus.The double escrow basically enables someone to do this: I never touch the $250,000 of the down payment monies put into escrow by the lender.The asset-based lender never hands methe $360,000 check. 

I hope to have enough success to one day enable my wife to retire early from teaching (such an energy draining profession). 

Only the rent boards know when one of the unpermitted units they've enabled to persist burns down.  

In my area, most of the properties that I've been looking at don't work out with the numbers for cash flow unless I can get it significantly under market price.I'd encourage you to read the Ultimate Beginner's Guide that Paul pointed out.Also, you can enable alerts and add keywords that you're interested in by going tohttp://www.biggerpockets.com/alertsAnd there's always some great articles at:http://www.biggerpockets.com/renewsblog/

I enabled it but it doesn't seem working.  

He uses it in his trade (rock extraction).