Therefore, my thinking is to create a relationship with ideally a group of cash buyers where I can get the specs of what they are looking for first, so that I am acquiring attractive deals.  

It's a career filed that probably attracts a certain type that is more risk-averse (think accountants)  but I can't think of any filed that will have you better prepared and able to invest than this one. 

Whats happening to you is you see the potiental and whats growing in you is the emotional attraction. your best bet it to go look at this house stand outside for a few hours have a moment of silence and never look back again.

Hey Don - I'm not sure if you've tired this already but services like oDesk.com and Elance.com allow you to hire freelancers for all sorts of jobs online.

I may settle for B+ but I would not go any lower.For this type of tenant I need an A-B+ class property but these properties are overpriced and the rents for them are not high enough to produce good cashflow.If I move to B-,C territory, I can buy some cheap properties but they would still be cheap after rehab and attract only low quality tenants.So, my requirements contradict each other.

My experience with really good property managers is that they attract business through word of mouth.  

Think like if you are a seller what would attract you in your difficult times.

If you account for a 6% +/- greater return on your investment, many deals become a lot more attractive.

Then you can consider whether it's worth making an offer, whether there's enough meat on the bone for another investor to be willing to pay you an assignment fee, and what kind of contingencies make sense to put in the contract.Finally, if the house is genuinely priced lower that market value, it will most likely sell above asking after a highest and best round - making the asking price irrelevant (other than to serve its purpose of attracting more bidders), unfortunately. 

I am a professional freelance Architectural/ Interior Design drafter with 15yrs of CD, presentation imaging, and 3D modeling experience.