I think I'm on the right track....
I've been listening to the pod casts, reading the books and learning all I can. I don't have money lined up yet, so I'm not ready to jump in. However, I was trolling around HAR, Trulia and Zillow to get an idea of what's out there. I found a house in a great neighborhood close to where I live for less the $100k. I was a little excited because I know the neighborhood and felt pretty confident that the house would be a good fix and flip. The school district is good but the high school the neighborhood is zoned to is not great, The neighborhood is well established and sought after. Even though I don't have financing lined up, I decided to just call the realtor and ask come questions. "Take action" says Brandon and Josh! I found out from the realtor that the house had about 25 offers, The property is a pre-foreclosure, so they submitted the best of the offers to the bank and are waiting to see if the bank accepts one. I also learned they took cash offers only. The realtor said they have been waiting for 3 months! The listing will continue to show as active until one of the offers is accepted. I asked her how would I know if none of the offers were accepted and new offers could be made. She said I would need an agent who could view the agent notes on HAR. Learned something new there.
I feel like I'm on the right track since I seem to have picked a property that other investors also jumped on. A little boost of confidence to keep me going...