I have reached out to one broker.

My father-in-law is also a very experienced agent and former broker with 35 yrs in the business who has been there to guide me and will do my deals.

A brokerage doesn't make a broker or agent successful.

If you are getting rent of 1,000 for 39,500 purchase in a nice area and the house isn't falling down you better scoop that property up.Remember with a short sale the listing broker and owner could be listing it low to get interest.

Check with mortgage brokers/originators that provide private funding as well

I've done a lot of cut and pasting Edward Scissorhands-style of many posts on BP that address seller financing, but there are several differing opinions on the topic of whether or not it is necessary to use a mortgage broker who originates secondary market loans for a NOO transaction.

Carlos I'm a multifam buyer for off market properties.But if I were you I would network and get to know the different brokers in your area.

I decide to walk away from the property, but I feel his behavior should get disposed, at least to the seller and his broker.

The guy may well be an attorney, broker, probably has other experiences such as appraisal and management experience.

Identify the top REO brokers in your market (easy to do on homepath.com or hudhomestore.com, or just google reo brokers or reo agents for your market).