In this instance, the fund manager is under intense pressure as there is a "pref clock ticking" that is burning a hole in the sponsor's pocket. 

The very best advice I've heard about sheriff sales is that at the beginning, you should be financially comfortable with putting the initial money you've set aside for investing in one of these properties in a little pile outside the courthouse and burning it.

Da roof, da roof, da roof is on fire . . . we don't need to water let this . . burn (well you get the idea . . . )Insane in our market is an understatement, if you aren't buying cash 5- 10%+ over asking (minimum) you aren't being taken seriously.

Because of this, I don't want to burn my realtor out 'shotgunning offers' and would rather submit myself to see if there is even any interest at my price range. 

I am lucky for it to be working so well, but I think its because I have taken measures and made things clear and made sure we were very much so on the same page as each other. but I can see in many different ways - where this would be a horrible idea, and that I could easily get Burned, so Thanks everyone for the Comments! 

Hey Everyone, So I found this property on the MLS, literally on Zillow, and contacted the listing agent. Let me just reiterate now --- as the title states "my first flip"... so if you're also new, please take heed to ...

Burn out- Some people get tired and quit.

Probably eventually will get burned with this when someone never puts in the second half.

White collar professional that just purchased the home 3 years ago and has money burning a hole in your pocket to overpay for the finest and nicest looking everything, Tesla parked in the driveway next to a Corvette? 

It is .34 acres and has a burned down house on it.