TF was great in this episode - great insight as usual, and it was great to hear him discuss RE for a change. 

I am a little confused, the homes on Zillow that are either in "pre foreclosure" or "foreclosure" state that they are NOT on the MLS and that they are usually bank owned.

Usually, it is their fault so they pay.

(I don’t usually work with buyers due to timing, but my wife is working on her license, so, in the future, I can help with that too).

They have a great deal of latitude on what they insist you pay, and what you actually work out in payment.Providing, that they are not a corrupt department, and most are Not (Some are quite political, with very "Selective Enforcement") Code officers and department would appreciate have a Foreign Landlord, who is in contact, works towards substantial compliance, and who they know they can trust to resolve an issue.That usually takes time and money.You need to explain , to them, that you "had a Terrible Property Manager, and have since changed and expect it Not to occur again."

Usually local REIA meetings are a good place to find both. 

You can usually buy a property and use it for its original intended purpose without too much trouble or review, but when you try to use it for a different,  non-conforming purpose most cities have some sort of planning/zoning commission that will have to review and approve it before its approved. 

Oh and the REIA is usually hosted by investors in your area. 

In my state they usually don't jump immediately unless there is a cluster of sales supporting the jump or if there is a revaluation to the area.

You would usually just flip the contract to another party for a fee.All you would need in terms of documentation is the agreement of sale that would to contain the words "and/or assigns" which would go after your name (since you're putting it under contract).When you find this person to flip it to, you'd add an addendum stating who the new buyer is.