Erik, there's nothing special about your extra low cash offers that are going to help you get discounted properties.
There might be a lot of bank owned properties and short sales, but there are also a lot of buyers today. Vegas is like 50% cash purchases at current fair market prices. The people buying legit properties at or slightly below fair market are the people who will get the properties, and rent or hold them....
People who waste our time offering 80% of fair market are doing just that... wasting time. I have clients who buy millions of dollars of properties, they do so at fair market, and they are very happy.
I've tried working with 3 or 4 clients offering low ball offers, and the sellers simply come back with a WTF? and No. Not a counter, a bad attitude and a negative look at me.
If you want to save yourself some money, get a license yourself, and go work the auctions. Good luck.