I went back and revisited what IRR is and my answer is not how you arrive at IRR.

Since the housing market crashed, the owner foreclosed. 2)- I bought for %60 less than the foreclosure price.

We were founded at the height of the market crash and specialize in off market, discounted properties.

We also rented units in partnership with refugee resettlement programs to recent arrivals; those were a bit different because the rental agreements were in the name of the tenants, but backed up by the resettlement agency paying hefty security deposits.

I got burned in the crash of 2008, but never lost my affinity for real estate. 

It doesn't account for national-level issues, such as the bubble and resulting crash back on 06/07 where unemployment spiked.

The meeting starts at 6:00 PM.You can arrive at any time but from 6:00 - 6:45 PM they'll have a Q&A which is very helpful for newbies.

The other part of wholesaling that is a possible red flag is Equity Stripping, AKA Illegal Flipping, this was heavily regulated till a few years ago by lenders, especially M.I. companies, they have relaxed the rules, but was a problem pre and post crash. seeing the increase in this activity seems eerily familiar,  like 2007 all over again. just be careful especially with your license, Disclose Early, Often, and in Writing, My license is too valuable to me to be involved in this type of transaction, so i steer clear. if my entity is on the contract, I am the one closing. period. 

In Cleveland, many landlords do not provide sufficient property upkeep so an investor has to be prepared when the "Must-Do" repairs arrive and tenants vacate. 

However, as long as maintenance is properly forecasted and allocated, the method used to arrive at the number is neither here nor there.Just out of curiosity, what percent of rent do you typically allocate for maintenance and what are the typical property value ranges?