lolAnd, as wholesaler not having a fiduciary duty to seller, not running a charitable organization or Church, how is it my job to educate the seller about the worth of their property?

I’m helping a buyer purchase one of his STRs in Charlotte and I know he is in the process of building a STR neighborhood in Gatlinburg.

In 1950 a nice SFR in a good blue collar neighborhood in Detroit sold for $9500.  

Since you've already thoroughly researched property values in the neighborhood, you can be confident that it should appraise for $300,000, allowing you to take a loan of $200,000 (or more) against the property. 

Most of the homes in my neighborhood are similar to mine and have all been converted to multi family homes.

I have boots on the ground (my business partner & agent) who informed me of the rough state the neighborhood is in.

In this case the house was priced comparable to others in the neighborhood within the last 3 months, however the appraiser used comps outside the neighborhood. 

However, I noticed that most homes in the neighborhood have vertical fences.Do you think it’s advisable to go with a horizontal design, or would it be better to stick with a vertical style to maintain consistency with the neighborhood aesthetic?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

We are not full time flippers, so we can be patient for a good house in a neighborhood we know.