Has anyone heard of them or been involved?

The work involved in finding the deal is the same and the returns is higher.Regarding your question, instead of going for average cap rates, I would buy a property if it makes sense financially in a location with solid job growth.

If so, what's their involvement?

Generally the short sale lender wouldn't be involved with this.

I can't deny how exciting REI is to me so far!

Heck, if you do not mind me installing a keyless entry, I would build a web site for the property, pay for listing and handle all bookings and automatically email you every booking agreement as well as give you access to a web based system so you can see the details of all the costs involved in your property for 10% :)!

Likely up to the first 4 mortgages as long as you can find a lender willing to cash-out refi investment property, qualify for it and adjust your numbers to include the fees involved.

The US LL list is comprised of properties that do involve the death of the owner(s); although, many of the names on the list are surviving spouses.

If you're simply doing your own deals on the side (buying and selling) without a formal listing in the MLS or a commission involved, you should be able to continue as if you didn't have a license.

Things get twisted once media and the Internet is involved.