Most are selling hype to get you to buy their programs by deliberately make it sound easy.Your profile here on BP is blank, so guessing you are a "newbie"?

I am not a tax professional trying to sell you my services I am simply providing my perspective. 

For example, let's say you are guaranteed a 7% pref and the property delivers exactly that, but then sells with a capital gain. 

He gave me the owner's number (Jeff) and I called him on the spot, hoping to be able to offer my services to help him find and sell more homes in the neighborhood.

If you want to sell this property, you need to let someone inspect it at least once and the discount for due diligence needs to be worth it. 

I just want o let the selling party my intent.

I ended up selling that particular property.

Does anyone have experience buying properties for cheap from land banks, renovating them, and renting them out/selling them?

A lot of people are sitting tight in homes they bought from 2017-2022 so I would be curious if we'll see those people sell and move. 

Quote from @Laura Yelin: Hello BP'sI like Sherman...I lived there for about 3 years many years ago and still sell and rent there.It's a slow wealth building market in my opinion, not get rich quick.Mostly blue collar stable town.