I'm guessing as people have  already pointed out that since "most" banks require MLS activity on the short sales making money directly off them is not the main strategy.  

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

Came across people talking here on PB about how Ohio is cracking down on wholesalers for "unlicensed activity" saying it is illegal to do in Ohio.

I really did not want to be active right now.

I am a Real Estate accountant so I am very familiar with booking real estate activity throughout the year and producing Balance Sheet and Profit & Loss statements however I am unfamiliar with how to analyze properties for investment purposes.

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

Non-performing notes are on the OPPOSITE side of the Active - Passive spectrum requiring several people to assist you, costs to evict or perfect, and servicing of owner occupied homes, many times, with required disclosures.  

Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.This is also a great place to meet people that can be assets to your business.

theme=Crim...Also, look at hotpads.com for active listings of rentals and or hit me up for CMA's on properties... 

IRS instructions for Schedule E, lines 12 and 13 states: In most cases, to determine the interest expense allocable to your rental activities, you must have records to show how the proceeds of each debt were used.