Also if your main sewer line is filled with waste and water it is pointless to camera the line.

It varies state by state on what level a real estate broker/agent can help a seller with a short sale on the residential side.In some states brokers/agents simply submit a contract and attorneys for the parties do the rest.In some states brokers/agents can help with workout options but in other states they must hold a mortgage license.There is also Federal requirements and disclosures brokers/agents must use when listing a short sale.The government calls it "the short sale streamline process".I call it a bunch of red tape that isn't needed which creates more government oversight and bloat wasting our tax dollars.Depending on loan type if the property is FHA then they can only accept a certain amount off of appraisal.A few years back it was easier to massage the bpo using different strategies to get close to your purchase number.Today more banks are using agents with experience doing bpo's and also the banks have controls in place to almost eliminate any manipulation by investor purchasers on value.Another point is if your area is declining by 1 percent a month and it takes 3 months for an approval by the time you close you have lost 3% in value.How you approach a short sale and an acceptable number will depend on what you are doing with the property.Margins and hold times are different for assigning,flipping,and rentals.

Why waste time building a list when you can find one guy with millions in his pockets and just sell to him?

I see lots of stuff being offered for "wholesale" in my REIA meetings (and from wholesaling investors by email) - with most of those offers being a waste of time to even consider.And then there is this gem from a recent Sheriff Sale in my area.

For REO purchases, cash offers are so much stronger that making financed offers is almost a waste of time.Once the REO purchase has been made for all cash, and it has seasoned to the requirements of the lender being used - then yes, refinance to have a mortgage in place.

Several time I felt so sorry for wasting our agent's time on the properties that we could not get.

and the letter went on explaining that I would buy the property cash, no marketing and wasted time on unqualified showings, etc (of course I had a clause in the contract about showing the property to qualified partners) and I would pay for their moving expenses up to $1,500.

It cuts down on our showing time and I refer all candidates to it prior to avoid wasting my or their time.As far as asset protection, owner info and purchase price is all public knowledge anyway, atleast in Michigan.

Great to know that opening the ceiling just to install fiberglass insulation - would likely have been a waste of time and resources.

In my opinion, it's not a waste of time to meet with sellers (motivated or not motivated) if it helps you to learn the market.