FHA underwriting is much more stringent, so if the house you want to buy is a fixer upper, it may not qualify.

I currently live and work in SoCal, but I may ultimately move to the Wisconsin/Illinois area (SO's friends and family).About the property: 7 units (6 Efficiency, 1 2BR) in a 3-Story house on the Upper Easy Side. 

And state that you'd obviously do a lot of the leg work, you'd just need to be shown what to do.6.

I would LOVE to purchase this property, but as I have never participated in a sheriff's sale, I wanted to ask the BP community if there are any ways to gain an upper hand in regards to foreclosures.

It is not a good idea anyway, but especially not if you think you are going to get houses in the upper half of quality in a city.  

He said, "I'm not but if I was, I have a buyer lined up already"Now, I'm guessing a seasoned wholesaler (that didn't have their 17month old crawling up their leg and crying for attention) would've used that as an opportunity to talk about what the other guy offered, right?

THAT'S the sort of savings you're looking for, even if you aren't flipping.Look into FHA203k loans, which let you buy a fixer upper (including the rehab cost) up to a 4-plex, live in one, with very low deposit down.One problem with Wholesaling is: if they're great deals - why would you WANT to sell?

There is a great podcast from bp of somebody that focuses on student housing and I believe they're in the upper Northwest, maybe Seattle?

I would say upper east side, east side, downtown, third ward, bay view, far south side.

@Christian Merchain @Polar Prutaseranee Send me your e-mail address on a direct message and i will send you great fixer upper deals in Los Angeles area