At one time, I had a database of sold properties with all the information I would need but now I am in the middle of an estate matter for my mother who had a stroke and appointed me P.O.A.

I'd at least try before I stroked a $100K check to the IRS.

@Steve Olafson Yes, different strokes and all that.

I am not saying it can't be done with no money because there are always those deals that fall of the turnip truck on 101 in the Salinas valley.. however CA has very many well funded and liquid investors so can stroke checks.. those are your competition for the best deals.. most folks who have this dream never get anywhere because they go about it wrong.. they don't line up the money... and when your seller wants a 10k EM check upon acceptance of contract your squeezed. because that's what your competition is going to offer.. like I said its not that it can't get done but your already severely limited when you have no ability to close a deal on your own and your relying on a 3rd party..

Different strokes for different folks, guys.

 $650 a month cash flow is tight and will probably end in you stroking a check every month.why do you think the rents are so low?  

Anyway, different strokes for different folks.

I am currently studying the subject of sales and negotiations in more depth.When negotiating and selling with motivated sellers, I tend to run into sticking points with the sellers, and would like your input on how you would tackle some of these as I'm sure there is someone out there thats already mastered these areas of negotiating and sales.Situation 1- The buyer having a retail number in there mind even though the house is outdated, and trying to sell the value of the all cash number.For example a lead that just came in today called looking to sell his house because his long term tenants of 9yrs are moving out because one of the tenants had a stroke.

I'm kinda doing that a little already using a peer to peer lending program that has paid me a consistent 11-12% over the last year and that takes no more effort that a few key strokes on the computer to transfer money in or out.On the other hand, I do believe that the property market today and likely for the next few years is going to be one of the best periods for investing as long as you have the resources to do so.

No right or wrong answer just different strokes for different folks.