Be mindful that there is sometimes very little incentive for a borrower to participate in a short sale.  

This could be the biggest way to kill a deal. 

I would really like to do that my biggest problem is getting the money to get started.

Since you can purchase properties at such a low price compared to the monthly rent, they will cash flow very well.Your biggest challenge will be managing the properties since the tenants are more likely to complain.

Lots of growth in that area and they are working on a 555 acre park that will the biggest in Austin (onion creek metropolitan park).  

I suspect we'll be doing more tweakings along the way.Our biggest expenses are really just F&B and airtix when we travel.

If that were the case, I could just flip with a pretty good profit.For me the biggest positive is that I can get a $0 down loan (as it is attached to my primary residence), I know the exact condition of the property and what I can expect in rent.

@Tiffany Plovie I will take your advice under consideration, I guess the biggest delay was that I was dealing with this situation personally rather than business like, and need to put the personal aside and handle the business at hand

My biggest set back is lack of knowledge and what the first step is.

That would be my biggest fear.Here's some good background if you're interested:  http://kcur.org/post/how-troost-became-major-divide-kansas-city