Good evening. First, thanks to everyone who gets involved on Biggerpockets. I have sent many, many hours on BP learning a ton from the experience of others.

I have found a property that will have more than ad...

In many cases, the short sale package that the seller signs will say that the seller can't make money by renting the property during the short sale process.You should ask the listing agent if that is in the documentation, and if it is (perhaps even if it isn't), you may want to contact the lender and let them know what the seller is doing.Perhaps threaten the seller that you will do this and see if he has a change of heart and decides to do the right thing.

Here's a few articles that might interest you about that stuff:How to Start Investing In Real Estate at a Young Age or a “Young at Heart Age”What is Hybrid Real Estate Investing?

My heart only just started beating again after reading through the proposal. 

I had one guy I talked to last week who flat out asked me if I was going to have heart burn if he said I send you property I have tied up for 10k and I am king a 90k assignment fee !! 

Maybe I'm cold-hearted, but I'm OK charging $500 in security deposits from each of 4 students in a 4 bed 2 bath house (my wife was in such an arrangement) while requiring parental co-signatures from renters.

REI is not for the faint of heart! 

I wouldn't assume either but rather seek out some local investors and see what they are doing and how it is working (or not working) before you jump to the conclusion that it is too expensive and try to make things work in an out of state market that you are not familiar with and will need give up control to depend on the kindness of strangers to keep your best financial interests at heart and make or break your investment.

It is in heart of the city and very urban.

Have always liked the idea of real estate investing but didn't follow my heart.