First, where are you located? It has become increasingly difficult to find underpriced properties in many markets (NY, LA, etc.). Finding good deals requires time, and a lot of effort. You must have patience, and you must set standartds for yourself. That's where the business plan that Biggerpo preaches, comes in. Figure out what you're in the market for.
Looking to flip, rehab, landlord??? Decide. Then you can focus better on the property types you're interested in. After that, you need a marketing plan. Will you use realtors? Mailers? Door knocking? Bandit signs? There are many ways to market.
Lastly, you must be prepared when that deal comes through. Is your money in order? Do you have lenders ready? Money in fist?
If you're not prepared, it is likely that someone who is will jump on it before you wil!
Toney - I'm glad someone is paying attention to me! LOL! Well, I think you're dead on here. Planning and then narrowing down your search is the way to go here.
Let us know more about where you are. Maybe we can help out more here!