I have two rentals and closing on a third soon.

Usually, it is too late in the process to perform a short sale, so that means the bank is going to want the full amount of the loan before the foreclosure sales date.  

Third Question: Can anyone recommend an agent they have used? 

Plus, one may perform differently in your market vs my market vs someone else's market.

It seems to me that I never get the value out of that third bedroom with only one bath. 

s...the confirmation by the court is for the equal distribution to the beneficiaries not whether the sale should go ahead or not.since its a fix and flip, there is no rental income.......i would suggest speaking to your lawyer as to how well protected are you by the articles of agreementIf you were to go ahead, fix it then hold it to earn rental income while waiting for title(specific performance)?

It helped a great deal with the market recovery as these Wall Street funds provided a role that the secondary loan servicing market was unable to perform for a few years.For the primary markets like, L.A., Las Vegas, Orlando, Tampa, Miami, Atlanta, Dallas, Houston, Phoenix, Boston these hedge funds sped up the recovery at a rapid rate.

If you are looking for passive income, then you want performing notes.  

Some purchase and sales agreements (Lease Purchase) may have specific performance requirements that allows litigation is the buyer doesn't buy, but I don't really recommend adding insult to injury if a buyer doesn't close in a lease purchase by them forfeiting their earnest money AND staring down the barrel of a lawsuit for not buying.

Third, move on to someone else while you due your diligence.