Start building your REI resume (through doing things as previously mentioned above), start a blog, do things that will bring you credibility in the eyes of other investors. 

Stay focused and keep you eye on the prize!

I was asked to do this with the first property I had under contract (which did not work out) and it was truly eye opening. 

At that point you just check back with him periodically to see if he wants to sell, then keep an eye on the tax and mortgage situation to see if it's going to foreclosure on either of those for you to pick up at auction.

It will open your eyes to the importance of working on your business, not just in your business.

I'm a beginning real estate investor living in the Virginia Beach area. I've had prior experience with real estate investing where I owned a duplex as a young man, but that didn't go so well.  Now I'm seeking to try i...

You should keep a close eye on your market to see if the inventory of homes is increasing by a large amount.

One of the presenters was Merrill Chandler of Credit Sense and Fuunding Hackers sharing eye-opening info about how credit and loan decisions are made.

In their eyes they just want to get rid of it at this point.It could be price, location, some hidden major issue (foundation problem etc) but knowing what it is will definitely help to negotiate a good deal that the seller is willing to take. 

If she finds out she could have gotten more money by listing it with an agent who is going to market it to a zillion eyes on the MLS , you have a potential situation on your hands.