Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

Oktay,I do know Janesville for the LTR I use to help low income families try to find housing there for years.

So the only money out of pocket is any closing costs that don't get worked into a new loan.

The current status of the market is low end rentals land lords that let the houses look like crap. 

Does Hard Money typically cost 30-40% of the purchase price?? 

You’ll put 5% down but get 2% back on sale (which might pay for your closing costs) and then do a rent by the room to cover your expenses and downpayment for next year) Not sure which university you are at but both Henrietta and South Wedge are solid places to start (serving RIT and UR respectively) Good luck, I personally think Rochester is a great area to start due to constrained supply with a growing population

Plus, these properties are usually sold as-is, so an inspection wont change much.What experienced Flippers Do InsteadBring a Contractor Instead A 15-minute walkthrough with a good contractor will tell you what you need to know.Know Your Numbers Upfront  If you price in a repair buffer, minor surprises wont kill your deal.Use the Inspection Period (If Allowed)  Some wholesalers offer a short due diligence window use it wisely.When an Inspection Makes SenseIf you’re new and not confident in spotting costly repairs.If its a high-end deal or potential structural issue.If your lender or partner requires it.If you do need an inspection, find an inspector who moves fast and work directly with the wholesaler to coordinate access.

Debt service is way up, revenue is generally down, down payments are way up, financing terms and costs are much worse.The time of fast scaling has passed, unless you're very creative. 

@Kerry Baird Love hearing about others taking advantage of cost segregation studies.