Chalk it up to experience, too messy to spend time, money and energy on it. 

We can exchange the spent CFLs for new ones at our local electric utility company... endless supply of free CFL bulbs!

We are both high energy guys and love the idea of being bird dogs also, just have to learn where to look first and would love some advice in that area.Thanks!

I can do it all pretty much, except complex plumbing, electrical work - leave it to the pros.

In order to acquire 100 units takes immeasurable time, energy and knowledge of a marketplace.  

Most in Katy, energy corridor and heights when is price right.

How are the mechanical and electrical systems? 

I trust you have a strong rental agreement that forbids tenants from making repairs and from modifying locks, door hardware, electrical fixtures, plumbing fixtures, cabinets, windows, etc.

in my area @Eric B. the utility companies are trying to go after the homeowners for the unpaid utility bills such as water and electric 

With 6% in commission and 2,300 left over in closing costs, it could be a full payoff so, i'd not spend all my energy on the short sale aspect.The only one that stands to gain in this is you, (to make a few bucks for yourself) and having her follow through with HAMP then doing a lease option with you, could put her into trouble with the Feds if she lies about her intent as it relates to the property and occupancy.