You simply have the seller sign an option agreement.

Do I simply need more capital to tie up such a building?

Your rent is determined by what the market will absorb.You need to go look at some rentals that are similar to the one you are offering.

., starting loan balance), and the number of payments you want to make, and you'll get the loan balance after that number of payments.RATE can determine the current interest rate.

I've kind of been turned off from foreclosure/auction/sherrif sales due to the long process and the inability to inspect the property etc.Besides getting the "balls" to actually approach people in preforeclosure situations, the main thing holding me back is financing, I simply do not have the money for a downpayment.My plan was to buy properties, hold on to and rent them until the market turns, and then eventually sell, but that may not be the best option at this point.Reading this forum the last few days I've been hearing some new terms:bird dogging - http://www.biggerpockets.com/articles/bird-dogging101rb.htmlwholesaling - http://www.biggerpockets.com/articles/wholesaling-properties-lg.htmlTo be honest, I'm not 100% sure what the main difference is.

We know this by simply asking home owners and seeing what it is listed at.

I would try to determine the replacement value, that number will be the highest end of the range.

This will allow you to determine which type of business you want to start; i.e. wholesaling, lease-options (rentals), etc.

It's my understanding that the seller must agree to the concept of a short sale, so you wouldn't be able to do a short without the seller knowing it.So you'd simply get a contract that says you can buy the property if the bank will agree to a short sale.

I advise my clients that their goal should be to determine what type of entity will give them the most protection without complicating their life?