Best chances lender will short sale

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Hi All,

I read somewhere a good rule of thumb is a 30% equity purchase price. I guess the idea is that after closing costs and other potential fees there would still be enough left over to be a good deal. (I guess this is all realitive to what you are trying to do though huh - i.e. rent it might not require this 30%, cashflow is more important vs. flip it 30% might be good rule?) (my goal is actually to rent it, however I'm not against flipping if would make enough to get me into more properties)

As I'm gathering preforeclosure properties, I'm trying to prioritize which ones to go after first. I create a spreadsheet that I'm hoping will help me evaulate each property. In my thinking I was determining how much more % I need to get to that 30% mark - that is the amount I would need to negotiate lender down to.

Is it more likely the lender will negotiate a short sale amount that isn't much (i.e. 10K vs. 100K) or really you never know until you try?

Thanks All!
Steph