You will build reserves to fix stuff (the capital expenses) if you factor in the 50% rule (you can find the discussion on the BP forum).As far as deferred maintenance, the seller doesnt get a free pass and cannot dump it on the unsuspecting buyer.YOU get estimates for heaters and new roof, and take it off the asking price.Somewhere in the middle, you will reach a deal.

And or Deceitful seller unsuspecting buyer..

It is difficult to do both and almost impossible if you are not truly a turnkey company.When you buy homes in challenged areas those homes are more difficult in every aspect of real estate investing (I hate the class a,b,c,d BS classifications because people use those as a way to oversimplify and essentially to lie to unsuspecting clients).  

Now they are playing the assignment game and skimming lots of money and costing unsuspecting owners lots of money.

Some put huge mark ups on their properties to unsuspecting buyers but the reputable ones sell at a fair market value.

Buy low sell high.. that being said much fo the property that you can buy low can only be sold to unsuspecting folks .. who as stated are not as in tune to values as you are.. and they want to buy on contract..

I want to partner with someone who is willing to to mentor me and teach me  in exchange for use of my money and time. keep in mind this is just a way to dump an asset on a unsuspecting or rookie investor.. 

If your metrics support better response to a particular smell, then you'll be able to state within reason that a certain scent actually has effect on persuading an unsuspecting home owner to unload their property for a 30% discount.In my previous life, I dabbled in such new-fangled marketing management concepts; smell, color of letter, time day of week (Thursday, Fridays & Saturdays are the happiest for a person!

It’s unfortunate that people like Than prey on unsuspecting people who don’t know any better.  

However, I have heard horror stories from other people saying that there were wholesalers who swindle unsuspecting home sellers out of their well deserved money.