For most new investors, the most difficult deal not only to find, but to pull the trigger on, is your first one.The best thing is to educate yourself and surround yourself with knowledge.

If "a good deal" means the mortgage balance is $90K on a $100K house, you may find yourself in a pinch if you try to refi a year from now.

Lenders generally do not care when they are getting paid but usually have a clause stating if you sell (deed) the property to someone, the balance of the loan is due immediately.That is what I would do.

Also trying to find a balance between the new job, investing and my social life (the social life has been taking up a lot of time this summer; beach house with some friends)

So since you are familiar with short sales, you know how to fill out their balance sheet and see if they have a chance to save it by their positive cashflow....correct?...

Eventually, it will get sold and these issues will go away.Unless you were very careful to protect it, its not difficult to come up with someone's phone number.

Mississippi coastal area right now have very difficult situation for real estate investment.

Who is responsible for the balance - Me?

$10m might be difficult in liquidable assets but is definitely possible to own that much on paper with real estate values.

I just logged into my CJ account, got a 98.00 balance, Its pretty cool.