I want to learn about probates...I know right, how depressing :(Anyway,I'm looking to either wholesale or personally acquire probate properties in my area.If anyone knows of a free source to acquire probate leads, or better yet would be willing to share their methods of acquiring or wholesaling a probate property that would be awesome. 

There are other methods of marketing for sellers and buyers that work well and will not put you at legal risk.  

Have you explored other methods of advertising?

If your interest is in being a real estate mogul and doing hundreds of deals then yes, you are going to have to look at portfolios loans, owner financing, and all of the other methods that are talked about here.

I humbly submit that I run the 2nd best LIMGclub.com Read Bigger Pockets till your eyes bleed, Try to figure out what ONE or TWO methods of investment will work best based on your strengths.

Did you find more info about it than whats here: http://www.megaeveningevent.com/real-estate-clubs/tx.php RE is a team sport... no matter what method of investing you seek to use.

It could be tricky though fielding calls from yellow letters, speaking to someone as though we "pay cash and can close quickly" and then deciding that I want to buy it outright and use bank financing.Does anyone have any suggestions or insight on either using bank financing or other creative methods to purchase a primary residence at a wholesale price?

I thought I'd throw that out there to let people know the method is alive and still very efficient. 

I'm guessing that method is very popular amongst seasoned investors - but they would/should only be looking to do that if their anticipated profits on top of their higher interest repayments are STILL as good as their 'normal' mortgaged ones ie.

If that definition of market value is met, you never buy under market value, the price you paid is the market value.Distressed sales may be from the motivation of the owner, the property condition, it may be under performing or there are issues of obsolescence, functional or external.Cure the matter that effects the property, mismanagement, condition, functionality or obsolescence.Going the route Chris mentioned can be done, it's not guaranteed as an over night method as it may take time to achieve a record that can be shown in the market and there will also be more emphasis on the management ability of the borrower.