Magnetic perovskites of the general form La0.7Sr0.3Mn1−yFeyO3 (y = 0, 0.05, 0.10, and 0.15) have successfully been synthesized using deposition by aqueous acetate solution (DAAS). Crystalline, iron-doped, lanthanum strontium manganite (Fe-doped LSMO) powders are obtained by preparing an aqueous solution of metal acetate precursors in the proper stoichiometry, drying the solution to generate a glassy gel, consolidating the gel, and then firing the gel for short periods of time (<2hrs). This novel technique has the potential for depositing large area thin films with high throughput and low cost. Powder samples of La0.7Sr0.3Mn1−yFeyO3 prepared by DAAS and annealed for 100 minutes at 1200°C are of high purity, are single phase, and exhibit excellent electrical and magnetic characteristics. Powders annealed at 1200°C or greater exhibit sharp metalinsulator transitions. Increasing the iron dopant concentration in these powders from 0% to 15% decreases the metal-insulator transition temperature of these samples from ∼360K to about 140K. The resistivity of these powders also increases with increasing substitution of the lattice B-site with iron, as does the unit cell volume of the lattice. Preparation of an iron doped LSMO powder that exhibits a maximum magnetoresistance at 305K was successfully carried out via a careful selection of iron content and anneal temperature. This compound, La0.7Sr0.3Mn0.93Fe0.07O3, exhibits a magnetoresistance of 40% at 305K and an applied field of 5 Tesla.