In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.A few tips:1.

Generally when sellers say "cash" it really means they do not want to deal with contingencies,  short closing period and/or do not want to deal with needed repairs. 

2️⃣ No Phone Call or Verification – If they refuse to hop on a call, is that an automatic red flag?

My area is relatively low crime, but had one place that someone broke a window to get in.... probably a homeless guy looking for a place to sleep....got scared when neighbor turned light on.I put in a SimpliSafe unit... portable, easy to set up, multiple options- you can use a webcam and get alerts on your phone and future tenant can pay for full service if they want. 

As a PM, I'm authorized to make emergency repairs without owner permission.

I'd be happy to talk w/you on the phone and maybe meet some time for coffee. 

Repair costs would be $150k.

New Roof, Foundation repair, New LDL flooring, Drywall work, New paint, doors, trim, appliances and new full bathroom on the 1st floor.

Have reserves for vacancies, repairs, and closing costs.

Make sure your budget accounts for potential unexpected repairs and delays, as these types of properties can sometimes reveal hidden damage during the renovation process.