Each case/scenario could be slightly different so the advice received here on BP may not be 100% accurate for each specific condition.

Hello everyone, I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)I'm seeing a lot of deals from wholesalers,  but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)

This would normally depend on the condition of the property and the Condition of the tenant.  

In these instances, you'd have to check things like flooring, plumbing for leaks, roof for leaks, hot water heater, and heating and air conditioning units. 

I think BRRRR can still work really well under 2 conditions: 1) you have another substantial source of income and your capital is somewhat renewable (I don't) or 2) you're willing to compromise on your target areas and move to secondary, tertiary, or out of state markets (I am not) or 3)  you're very lucky and/or skilled at acquisitions (I am from time to time).  

You can identify the hotspots for crime, school levels, income levels, where there is dilapidated homes, then based on the age and condition of the property gauge where the property stands in class, happy to talk further. 

Getting them to pony up even when they are at fault is impossible.2) This condition existed when you purchased.

Do market conditions, taxes, or potential rental income play a big role for you?

You know you already have or can find a buyer for this very same property in it's very same condition for $150,000.