I also work in different parts of town, so we're interested in something very central, hopefully in a decent (or very soon to be decent) neighborhood with good/quick access to different parts of the city.

Javier, I would say the 70% Rule is mostly used in areas with lower property values.

Prices are lower and towns can be easier to work with. 

Option one is to purchase the home with non paying tenant remaining after COE for a lower price.

No buyers.2.  6 months go by, the bank lowers the price to 139K.  

My best clients always know the value of the houses even when I offer lower the offer.

I have also considered switching careers to become a real estate agent, so I could have access to the MLS and it would help with the income debt ratio because I wouldn't be  paid under the table anymore. 

All true pre-foreclosure information should be easily accessible via a general MLS Tax search or county search combined with Spokeo or Anywho to get phone numbers, but many other people will have that info.

That's true, but the more you get involved with real estate you'll harken back to subjects that you thought were a waste of time.The big, big plus once you become an agent is you get unfettered access to the mls and the rpr resource.

If you aspire to have rental properties you might like the financial benefits of keeping your existing house as a rental when you buy your next primary residence, if that's an option for you.Primary residence home mortgages have a lower interest rate than investment mortgages traditionally, so by buying your next primary residence and hanging on to your old one, you get to keep your lower interest rate on both properties.