But have no idea what the source was...

I’m working with my RE Agent and I do get MLS listings but I don’t think MLS is very good source for these type of properties.

They are a possible financing sources.

Wow, that's a huge subject, seperate degree programs surround municipal planning.

My observation is that there are at least two residential markets now.Any property in decent shape from any source (REO, homeowner, or elsewhere) will generally sell to an end buyer.

It could be 150 - 155K....The owner gets $3000 as down payment ...In an underwater situation, the seller gets NOTHING in a short sale (except under some government sponsored programs paid by taxpayers).

Nick was the original starter of our local real estate group, he then started touring selling his programs and speaking so handed off to another guy.

Welcome to BP Daniel, I caught this on the second page without an answer.It could be it went unanswered because with a little reading here most all of your questions would be answered and there were so many questions it's harder for someone to keep them all straight to give an answer.Seems most interest is in refinancing after work is completed, yes you can, but only to 75/80% of the value, you won't cash out to 100%.Financing rehabs is usually local, there are fha programs for small fixes, but you need to speak to your bank and a good mortgage broker.

One of the areas I am considering is providing rentals to Homeless vets under a program currently underway at the veterans administration.

If you contact your local Extension Agent, he or she should be able to give you a good sense of local rental rates for farmland or at least point you to a local source for that information.