All my SFH's have come from foreclosures or from a package deal from another investor.  

Today, getting a mortgage is a pain in the ***, and although there are non-traditional lenders who have filled the sub-prime space (thank you fellow members), another real estate crash seems very unlikely as foreclosures will probably never again be as dramatic than 2008. 

I would sell it for a tax free capital gain and buy a foreclosure to rehab.

The problem is that the owner had a Foreclosure recently and he can't refinance to get a better rate so he wants out.

So when targeting foreclosures, I've got some unanswered questions.

I will certainly try more negotiation but a typical single family home typically cost more than $120,000 so unless a multifamily complex is in headed to foreclosure I would think it would be pretty difficult to get that kind of price.

She recently made a new payment of $800 and I received a letter saying that they received her payment but she needs to pay 4,440 by the 10th or they would proceed with lien foreclosure and eviction.

@Ivan Larios -  Foreclosures should all be in the public notices in the local paper or on sites like Auction.com.  

Once it collapses, maybe pick up some of the foreclosures.

Do you have any suggestions on looking at foreclosures, auctions, or short sales?