But what would be my negotiating points so that the seller understands my position and doesn't feel I am trying to take advantage of him?

This is what I envision:Step 1: Find Property worth buyingStep 2: get financing for said project and do rehab to create equity ( 3 year term)Step 3: Find tenants that want to do a "rent to own" situation on a 2 year lease termStep 4: screen tenants and collect "money down/option payment" (somewhere in the realm of $5,000 and negotiate purchase price and get contract signed.Step 5: Hold the note for the 2 years and collect rent payments until tenant is ready to exercise, if they don't then sell the property for the appreciated value straight up and collect the equity.does this sound like a valid strategy, and if so can anyone provide me any insights into any potential pitfalls?  

Another thought I wanted to mention...When I first was introduced to the process of negotiating, it was expressed to me that understanding is always key, that "the confused mind always says 'no'."

If I do go and see the properties should I have one of the local REIA guys send a contractor to meet with me to give me prices on the repairs to help garner more leverage in negotiations?

@Anna Watkins  Anna it would be customary to get a " release clause " written into a blanket mortgage.some will specify exact dollars to release a particular property... or a % of the loan .. it becomes a negotiation if you will with your lender

@Evan there is no right answer and it is all negotiable. 

Auctions have always intrigued me as you can avoid a lot of the negotiating with sellers but having to buy without seeing property would be interesting.

The training was on Negotiating and Salesmanship, and what to do when you get a call from your marketing.

You may be able to negotiate a modification with the fist lien holder after foreclosure, but its a risky gambit at best.  

We negotiated 12% off the remaining balance, took out a refi on the property after it appraised for $200K (!)