(http://www.propertyradar.com/)Its a good way to find motivated sellers so you know you're not wasting your time with someone who just happens to like living in a dilapidated house.

Account Closed  having bought my fair share of preforeclosures.. your first rule of thumb is to basically disregard what the seller tells you because half the time they don't know.your job if you want to buy this is to get them to tell you who their lender is and get written permission to talk to the lender or the trustee handling the sale.. then contact said lender or Trustee and get a payoff quote in writing once you have that then you know if the deal works on the money side.. without it your wasting your time.

To do so is in my opinion a waste of time for both you and the seller and many sellers across the country and certainly in Las Vegas are beginning to pursue wholesalers for specific performance of the contracts they enter into.  

I waste SO MUCH time fixing bad spackle jobs @Lawrence Henkel III!

But what is realistically going to happen, they will waste 6-12 months and not be able to get the deal done.

The brokerage makes their money on commissions and load fees, so they charge effectively nothing for the plan (which is limited to suit their business model).With a truly self-directed Solo 401(k), you are engaging a firm to provide you with a 401(k) trust that is not limited with respect to investment choices.  

Short sales have been a complete waste of time for me personally, but have found some good REO deals.

People waste far too much money on expensive large homes no one needs.

If this is the case and I must add my name to the title than my creating this LLC was pretty much a waste. 

Yes they can sue you for damages to the property as you agreed to keep the property in good condition, not allow waste or its value to decline by your negligence.