Quit claim deeds can complicate the chain of title.

Interestingly, simple models and rules of thumb will outperform complicated models in such highly complex systems with many variables and too many unknowns.

@Laramie HiebnerWhen a home owner goes into a default (90-120 behind), the lender will post a Lis Pendens with the courts, listing the notice of default and how much is owed.If you were to approach an owner and convince them to sell their property, and they owe more than the house is worth, it would be a "shortsale" and the lender would have to approve the sale and sale price due to the loss on what's owed.Nebraska is primarily a Trust Deed state (non-judicial foreclosures).

Read somewhere on the internet at work about rentals and thought I'd give it a try. 30 days later I closed on a complicated unwarranted condo and rented it out in a day.

So it gets really complicated when you start trying to target a post-tax number.

I had heard about it but being non computer oriented I did not know if I would be able to configure and use the site.. as I get super frustrated super quick if it complicated at all..

You do not require a lawyer, but some people still utilize their services for more complicated transactions. 

Most foreclosures in Missouri are non-judicial.

Further, the homestead exemption can be used to prevent the sale if the creditor cannot prove that the sale of the house will satisfy the outstanding lien(s) and the exemption amount.Secondly, I believe, there is a further issue as to whether or not the foreclosure is a judicial or non-judicial foreclosure.  

If you're doing a more complicated deal, maybe a big rehab job or something... then partnership might make sense.