In a down economy the first thing that families and individuals are going to cut out of their discretionary spending is going to be their vacation. 

need help to make sure i have the right steps ( basic format) -find cash buyers & their criteria -drive for dollars , organize info into my laptop-find comparable prices to what its ARV could be - call the owners & pray that they are motivated & find out if they owe anything - find a contractor to help me estimate the rehab costs -offer -pray that they sign -go to title company ( & say what?

Also, even individual Private Lenders should be able to provide you with an Estimate of Cost, Good Faith Estimate or pre-Closing Disclosure that you can present to your Title Company. 

I believe the seller is motivated to sell due to financial difficulty but that is solely based off of speculation.

@Bill Kenny...have maybe three different individuals tell their story of their first or most recent deals?

I am very curious of how the strategy of doing individual room rentals plays out? 

You normally want 50-100% equity in the home, a home that has sold within the past 15-20 years, absentee owners because it is difficult to manage from far away, and an older owner because they are often more motivated and looking to get out of real estate.

It is really dependent on the individual, their KSAs (knowledge, skills, abilities), their interest level, their geographic proximity, etc.

This is very motivating...

Thanks for the motivation Rush!