Are you sure it will be $400 cash flow, that seems high for the Pacific Northwest.  

Pacifically eviction history?

I have sailed all over the the eastern Pacific from the Gulf of Alaska and the Bering Sea to South America.

You two-toned, zebra headed, slime-coated, pimple-farming, paramecium brain, munching-on-your-own-mucus, suffering from PETER PAN ENVY!!!"

Is it Federal Pacific? 

Obviously, leads can take months if not years to pan out.  

If you are getting 12% for 5 years it would be worth it as long as all of your due diligence pans out.If you are borrowing 12% for 5 years against the estate, that is a little high for long term money.Your exit strategy will depend on what the money is being used for.

But, its included in the fee I paid, so I will try again and see if that pans out.

So here's to our deeper diligence panning out!

Then what you should sell for-minus-what your "finder's fee is" = reasonable amount to offer current owner.It's my understanding that working from the bottom up by placing a contract on something then trying to mark it up and sell it to a flipper/buy and holder will not pan out for you, the current owner, or your prospective buyers.Check out the blog post below for a good overview of the process, but I would suggest listening to the podcast too for some really great insights on how a possible wholesaling operation might work.