I've researched so many websites and networked with TOP REO agents in my area.
I've found that the banks have streamlined much of the REO process and hired outside companies to do much of their repairs, trashouts, & listings.
Seems that the getting Short Sale listngs is a better way to go. You have to have at least $5k-$10k available to put out to even be successful to maintain the REO process.
Also found that many of the lists I've received with Asset Manager's names & phone number's have left the banks or the properties were given to other Asset Manager's.
Lot's of time to try and get in. They also require additional certification courses that cost alot.
If you know any established REO agents in your area you may want to talk with them. Many are pretty "tight lipped" on their contacts though.
Best of luck!