Strategy by  buying the non-performing loan through new concept of  using "The carrot and the stick.Improving the Short Sales success rate , sharing the financial gain with owner who traditionally get nothing at closing. this a new concept  of resolution with the bank from the back end in a win-win-win process.

Agent/investors are used to this sort of arrangement, but it may be hard to convince a traditional "retail" agent to work with you.

Going with one of the traditional brokers you'll most likely start out at a 50/50 split.  

If I were you I would go with a non-traditional broker.

Thy dump it into the next project and just keep rolling it...I have also seen full time investors that don't have a traditional 9-5 to pay bills take 30% and reinvest the rest.

There's about four things youve got to work on to get a fast startWhen you go to learn how to get JV money, talking to doctors and business owners, you find a deal, that needs work, you have money and credit  business partners that will put up hundred percent of purchase price and repair costs, and you sell it and split the profits if you pay back your money and credit partnerYou need to find private lenders who have money in IRAs whether they're in  Roth IRAs or traditional IRAs, but they need a good rate of return with some kind of real estate security.

Where I live in LA, the barriers to entry for traditional home ownership are higher (20%) down.

They can also be faster and more transparent than traditional home sales.

@Jeremy Slater your relative pulled equity from the house (a HELOC i assume...) prior to selling the property to you; which you financed through a traditional lender on a 20 yr. note?

A strategy some investors use is hard money lenders to front the capital for projects and once renovated refinance the home into a traditional mortgage.