Thanks Kirk, I am very optimistic about a source of money I was told several times that was not going to be available to me because of being a family member.

An optimistically reasonable expectation that something at that price level, rent ready, will probably rent for around 500/month.

Major lessons learned and we'll definitely get out there again - a little wiser and a little less optimistic. 

One other suggestion I always make to newer wholesalers.....whatever you do, do NOT exaggerate or be overly optimistic with your ARVs.  

Many things are possible… Maybe it is the optimist in me!

There are skeptics who say it will never happen but I am an optimist!

It's About Time: Optimistic Bias in Work...Of course, Pessimism Bias is a thing too.....Keep detailed records of everything you do: deal diaries, budgets, etc.

That doesn't hit the 1% rule and with CA taxes (that will go up after reno) you are sure to be cash flow negative each month, maybe by a lot.I see additional risks:$650k rehab budget sounds optimistic.

I'd hate to let it go back to the owner, because I'm optimistic the owner will not pay the taxes and the process would go through to obtaining a deed. 

This may be a little more difficult now.I am still optimistic of the San Diego RE market for investors, but not nearly as optimistic as I was a few years ago.