My valuation shows negative cash flow.

If this is the case, don't be afraid to do the bare minimum to get the space up and running, and then add items as needed over time after you have some rental income to play with.However, if you are planning on transitioning these to STR's in the future though, I'd definitely recommend getting as close to fully set up as possible before launching. 

Because I have cash to close; because I ALWAYS protect their commission/fee, and because I alway do what I say.To earn the kind of numbers the OP is anticipating takes ALL of the following1.

You have to deposit cash up front in your bidding account to be able to bid.  

That's not enough cash on hand and reserves to play in New Jersey in Monmouth or Ocean.

We are of the mindset that this is the best play because it takes some risk out of taking the plunge. 

The Midwest might be worth a look—it's affordable and offers great cash flow potential.

So I can cash flow with less rent.   

A Lot of agents 1) don’t really know all the intricacies/procedures/rules/strategies to do a short sale and 2) don’t want to do all the extra work involved in one, for no extra fees.Attorneys are not great for negotiating/processing shorts sales…they often slow the process down are not needed.If it comes to that point, have a talk with your agent, and their broker, about switching to an agent with short sale experience.You would need to show a financial hardship though….as in you can Not afford to pay the negative cash flow indefinitely. 

When structured favorably, seller carried transactions can offer lower down payments, below market rates and terms and improved cash flow and cash on cash return.