I then mailed off my yellow letter campaign to the owners and I received a phone call from a listing agent that was not pleased with me sending a letter to her client.

Call those brokers, invite them meet for coffee or pay for their lunch, tell them what you're looking for, build trust, follow up to stay top of mind.

Craigslist(Post)Post a ghost ad to get cash buyers to call you.

I know it has been called a little/ no money down investement route but I believe that is more to do with marketting costs.The gurus have explained the steps in details such as qualify a TB, but in order to do so don't I have to go a mortgage broker and ask them to carry out the required checks..surely that carries a cost..I would like to understand from someone who has experience the followingwhich professionals need to carry out each stage for both the TB and the seller documentswhat are the ball park prices I need to expect for these services. 

In July the agent called and said the bank approved the short sale and an approval letter would be sent within 7 days.   

Otherwise you have a big gaping hole that allows the elements in.This summer I have had 4 swamp cooler related phone calls that required rapid response. 

Not to paint a grim picture, just a rality I deal with all the time unless margins can afford remote autopilot or hands-off I call it. 

There rates and points are reasonable and they're what I would call a common sense lender I believe with new clients you're looking at about 12% + 2 - 3 points.

I would call the state to make sure your interpretation is correct.

If an owner carries that has a mortgage, it's called a wrap or wrap-around mortgage.