And make sure there aren't any conflicts with a licensed Realtor or Appraiser Investing.Any advise on this?

The key is to have the proper team in place such as a title/escrow company familiar and capable of back to back closings, an attorney, to properly advise you and construct your documents for full legal disclosures and verbiage in your documents, and a quality transactional funder.With all of that, you can successfully complete short sale transactions.

Nephets,Buying a bunch of rentals is pointless unless they generate real world cash flow.

You could take the view that you should stick to what you know and just buy CDs or other passive investments to generate income.

That is the 50% rule.As a screening tool, a property will generally need to generate about 2% of the acquisition cost (purchase price + rehab cost) to have an adequate cash flow.

Thanks again, Ill advise as we progressMatt

I target certain areas and will market heavy in those areas, and I will target certain lists that I think will generate motivate sellers: dispossessory; probates; etc.

Offered $160K, investor advised already received an offer for the full amount of $180K, however, he's open to a higher offer [of course].

Google is your friendhttp://realestate.yahoo.com/info/news/new-law-helps-ease-pain-for-some-facing-foreclosure-or-short-saleAlso, you really need to hook up with a qualified CPA if these measures don't apply, since I'm not licensed, I shouldn't be giving tax advise.

They can better advise you in your specific area and situation.Jon