I don't think theres's any way to know for sure what kind of discount you're getting, though, unless someone who actually works in a bank's REO department chimes in.

This can make for a tough transaction. 

JeremyYour ability to do this will be contingent on a number of items: First you must, I repeat must, go find the planning department in your local jurisdiction, unless you are lucky enough to live in one of the few places left that don't have zoning.

I believe you can get a list of condemned houses in your area from theCondemnation Department.

WHAT IS THE ROI OF ABOVE TRANSACTION?

When you have your buyer and the Assignment contract (for sale price + assignment fee) is signed, you need to take that and the buyers Ernest deposit to the title company also.You can by all means do the transaction without going to a Title Company, leaving that to the buyer, but what stops the buyer from just cutting you out of the deal and buying direct from the seller...There is my 0.2 cents, hope it helps!

Can someone walk me through this transaction.

If you refuse to provide that info, a lender would have to be morons to fund the loan.You don't provide enough detail on the transaction for me to render help.

Account ClosedLike most RE transactions you'll make you money on SFH when you buy the place.  

I don't think you need to have your broker's license to manage property but you would to transact.