How do I go about choosing the right city and what data sources do I take advantage of in making this decisions?

I have looked at the "city-data" website for Yonkers, NY and I know that the population increased 9% since 2000 and the median income is in the $50,000 range. 

Does anybody have any experience with negotiating a short sale and the lender sells or transfers the loan to another bank?

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So far my understanding is that in Missouri it might be beneficial to use a purchase option contract, especially if I am looking to make money by "bird dogging" for a buyer -- through transferring the purchase option right.

It would be in the best interest of the recipient to have the value on the transfer be as close to the limit as possible because that will set their new basis, and when they do sell it some day cost them less in capital gains.Good luck with this!

Like I suspect the key words you want are "due on sale" if you are looking at loan called due for a transfer of some kind.

Also, could the bank still call the loan even if you transferred it back?

Most I see use inflated ARV's (goes back with not knowing how to find MLS data etc.)..A realtor is a Wholesalers important asset if you ask me! 

In Fl, you can have someone do the data entry and upload the photos, but you must take the photos, pull the comps, make (or dictate) the comments in the report and assign a market value.