I noticed a letter on the ground from Chase and was able to get the previous owners name.

One the seller can verify has some teeth behind it.Sorry, but if you coach is having you chase REOs with POF letters like you have and these crazy terms in the offers then I think you need to consider what value that coach really offers.

I can say the number one mistake made is basing a rehab off of the top of the market pricing.In a declining market you want the best product in the bottom 50% of pricing for the immediate area.This shows a great product at a great value to buyers.If you overprice and chase the market down you will stay behind the pricing curve and never sell.The name of the game is sell it quick for a decent profit and move on to the next one and not get STUCK.

They would chase me back to my house and taunt me as I took shelter inside.

Good returns but more work chasing around.

Investors and brokers is a two way street.Being that I am both I understand both equations.If a buyer came to me for a certain area wanting a fully performing property at an 11 cap and I know for a FACT that properties in that area are trading at 9's everyday of the week then that buyer is unrealistic.I will say it is fine that an investor if they choose wants to go on a wild goose chase for a year to try and find a property that is very uncommon in the marketplace to purchase.Just do not expect any broker or agent who values their time to go on such a mission.

But despite attending several seminars and training, the real world application has fallen well short with only 1 bird-dog commission from chasing pre-foreclosures.I've found it hard to juggle a full-time job with trying to get started with no money in REI, LOL.I look forward to learning from biggerpockets and hopefully kickstarting my career for real this time in a new city.I'd love to hear from you and any advice on where is a good place to get started with limited time and very little spare money.

Too many times I see people chase the shiny ball trying to get the house for a ridiculously low price only to loose the deal and they end up making 0$, not to mention the time lost in due diligence.

I'm still chasing down the original contractor.

Thanks, I'll chase cash flow after taxes then.