However, he likely will have to pay Mortgage Insurance which can be substantial.

Obviously the monthly income drops substantially and so would the percentage you receive. 

Vendors who make sales that are “per se” exempt must maintain adequate records to substantiate the exemption. 

I came in with an offer substantially lower, and the sellers took it.

I've seen the areas you mentioned on some of my searches, but if you're local and can see the conditions first hand, I'm confident in taking a look at the same areas you mentioned.

The amount can be substantial and upwards of hundreds of dollars.

My observation is that cash investors or investors with substantial equity, tend to be more greedy with their sale prices.

(assuming Amazon goes elsewhere, if Amazon comes to Dallas.....then hold on tight, we will go up substantially over the next few years.)Best of luck to you!!!

I've been looking at pre-foreclosure properties and came across one where heirs of the deceased owner of a many-years-abandoned home with significant equity were persuaded a couple of years ago, for substantial $, to quitclaim the property to an investor (the heirs think he is an attorney, but he's not). 

One thing I will add is that the “substantial improvement” part of the law - aimed at development / redevelopment - is especially interesting because you can do a cost segregation study / bonus depreciate parts of your property in connection with meeting the substantial improvement stipulation.