Ok, Ive received a call from someone whom is interested in selling his house, he recently bought it in Dec for 65K, according to him he only owes 55K and wants an extra 10K for the amnt he put into the home.

The second will receive a small pay off and you must also negotiate the short sale with them.  

I have excellent credit (745) and can provide w2 and all the required documentation.

I've found a realtor to work with and am now working with someone in order to receive financing.

Even better, I recently and finally felt what it's like - on the receiving side - of authentic "give before you get." 

When the deal closes, the seller receives the amount due to them by the Title Company.Hope I can help and good luck!!

“The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).”https://www.fanniemae.com/content/guide/selling/b2/1.2/03.htmlI would like to get as much out as possible and move to the need deal.

If you are truly a documented full time student.

The referral is no violation unless they are receiving some kind of commission/payment.

The documentation states that I should send a letter to the original owner informing them that I purchased the lien and also the amount that will be owed to me, Some of the percentages I understood, some were a little confusing.