I would bet that if you're a Romney/Ryan supporter, you probably think Obama/Biden are extremist.

My bet is that the tenant worked and maybe with someone else.

It's a sucky way to live and I don't recommend it.Full-time RE is a problem when it comes to things like loans, rentals, etc.Basically, the best way (IMO) to do it is set up a corporation and pay yourself either as a 1099 or a W2... and expect to get put through the wringer every time you deal with a financial institution, even after you're pulling in good money.If you're unfamiliar with corporations and tax strategies, your best bet is to seek out a trusted professional who does understand such things and pay them richly to set it all up for you.I believe that about the worst thing you can do is jump into REI as a sole proprietor without any kind of legal business set up.

Of course, nothing says it has to be this way but don’t minimize your value here.Unless your money fell from the sky and hit you in the head, I bet you obtained it like most of us did -- by working your butt off.

What would be shorter and much safer, don't mention the foreclsoure at all, contact them as if you were not aware, send a standard "I Buy Houses Letter".

FYI, Listing agents cannot write offers on their own listings period (just an FYI, not really applicable to your question).You can bet your broker will not agree to allow you to represent anyone for free.

As landlords and managers, QuickBooks’s is still our best bet.

It might perhaps be answered that we should wish to be both; but since love and fear can hardly exist together, if we must choose between them, it is far safer to be feared than loved.

I would not blame anyone if not interested now, but I'd bet in 20 years from now, collecting rent in virtual currency will be very standard and we will laugh at this thread:)   

You bet.