Close a deal in TWO days

[Jay Yoo]

Hi all, hope you all had a good safe Christmas. It's been a quite year in 2020. 

I was hoping to pick up your brain on a deal that I was working to close in two days. Title company said they can close it as long as cash offer, title is clear with one owner, and no mortgage is left.

Found this deal from a reputable wholesaler, and the wholesaler said that the seller wants to close before the end of 2020. 

The seller is asking a pretty good price, and the condition is almost turnkey, little bit of cosmetic work, and update kitchen, appliances, which is great for inexperienced investor like me to add value to kitchen.  

The rehab cost is expected around $15k. Ran comps with agents for ARV and recent sold price for similar properties.

There is definitely an instant equity and cash out refi will get a bit more than 100% of cash purchase funds after 6 months. Meets all 1.5%, 50%, 70% rules.

I've already ordered the inspection on this property $150 out of pocket, will get them in an hour but not expecting big ticket items to repair.

I checked with title company, and they said they can close "BUT" this property will require a land survey done and making sure no encroachment with neighbors, etc. They said this will take a week to complete a land survey. 

I'm going to review the contract with my attorney once I hear back from the seller on my offered price even lower than other bids but to close in two days. I have not signed anything yet. 

There are many factors going on here but what would you do if you start investing out of state sight unseen buying a property without an agent due to wholesaling deal. I wish I could involve an agent so he can be compensated but this doesn't seem doing any good to my agent either. I can't find deals on this market with light rehab that fits into my budget unless Class C-, D neighborhoods. 

Wasted $150 for the inspection fee but better than losing $2k EM.

Appreciate your thoughts on this! May be it's time for me to look for other markets or wait to see what happens in 2021. Happy new year everyone! Would you drop this deal off the list?  Also, any books recommendation to read  on "buying from wholesaler"?