Talk to the seller and check their motivation level.

I find this interesting, because most states do not look favorably on people motivated by profit to engage in multiple contract for deed transactions to avoid licensure as a lender.

Listening to the great guests interviewed by Josh and Brandon and reading all the interesting posts by you folks has really helped me to get motivated about getting started in real estate. 

May want to ask the realtor how she acquired it, what is her motivation to sell, and what is the least she will take, even then you can say well all I can pay is ___ and give a little lower price. 

I have a motivated seller with a house that's worth about $70k looking to sell for $50-$55.

So much depends upon your personal circumstances.If you are really close to broke and staying afloat by taking on more and more debt (which it sounds like you are) then probably a job, if you don't already have one, is your best bet for the time being.You have the right motivation.

In your zest to get your first deal going, do NOT become a motivated buyer.  

I have started taking a lot of basic steps: researching forums, listening to biggerpockets podcast (absolutely love them), and reading a lot of real estate introduction and self motivation books. 

Russell Ponce Thanks for the response-very motivating (not sarcasm)Regarding your question- No, these are houses we located by driving around and taking note of major/minor repairs.

and second, I wanted a positive experience to give me that mental motivation I need to push me to do something that is normally outside of my comfort zone.