It wouldn't be necessarily all tied up in one deal.Same thing if my friend wants to send me 100k for me to manage it, anything I need to do prior to accepting the money?

Getting a short sale in contract prior to it hitting the marketplace has become increasingly difficult, government backed foreclosures now require a listing to be active on the market for 5 business days, and require proof of the listing being live on the MLS (Agent Detail Report to be uploaded into the system the day it goes live).  

I have been discussing similar scenarios prior to finding this actual one with friends and the all said if I should them the money it would be a done deal.

This is their clause in their (Homepath) website:"Please keep in mind that Fannie Mae may not repair or replace everything in a home - we always strongly recommend that buyers hire an independent home inspector prior to purchase to identify any areas that may be of concern.

Show photos and floor plans to prospective tenants prior to opening it up for show.  

I have been discussing similar scenarios prior to finding this actual one with friends and the all said if I should them the money it would be a done deal.

In her prior arrangement, she was working for her father.

Most of that was income from prior deals.

Better condition than my prior 3 rehabs.  

Yes, i could flat fee list it, but having done a separate deal recently in which things went sideways prior to closing, i'm reminded of how important it is to have a great agent on your side (and how important it is to pay your agent appropriately).