Is it possible to short sale an REO?

With the brokers/realtors and everything in place or even if it isnt listed with a realtor, can you submit a SS package to a bank for an REO? Or would it be more like just submitting a low ball offer like you would with any other seller? Do they normally even consider an offer at a substantially lower price than they are asking? (30k+ less)

NO, you cannot do a SS on a REO property.