I would start with understanding how a power of sale works and your judicial and non-judicial processes.

I would would think moving forward that investors would have more negotiating powers with banks or sellers as prices continue to drop and get a cheaper price then say 8 - 12 months ago...Thank you both for your replies and opinions. 

There is a lot to take in, and it can be overwhelming, but just take a breath, build a plan, and then take action.  

It could take days to get a response from the seller that's already overwhelmed with asset volume.

With so many houses for sale around town its seems overwhelming and very hard to know if you actually have a deal worth pursuing.

It will take a LOT of work on your part but if you understand the power of partnering on deals with a knowledgeable investor, the learning curve will be shortened considerably.

(As someone who has done a lot of selling in his lifetime I understand NLP and the power of the spoken word, I simply am doing the upmost to be honest and capable of follow through with them.) 

Ultimately, I understand the power of networking and how much it means to a business, especially in real estate.

Protect and build your credit.Right now I highly recommend you explore the forums (it may be overwhelming at first, no worries no rush!)

Sounds like a fun problem to have, though I imagine a bit overwhelming if you have no experience with real estate to start from.What you do *really* depends on whether you aspire to be a real estate investor ... or not.