The answer to his question is purely subjective as each bring different skill sets and each come from different perspectives.

If you do, your chances of real estate investing success are greatly multiplied.My recommendation of getting a mentor is purely because I hate seeing sincere, regular people spend their last dollar on a huckster who is only after their money.

I am coming from a novice standpoint so I am purely inquiring, but isn't the best solution to nip it in the bud right from the start with detailed scopes of work and contracts?

But no one would ever ever ever buy a home in that neighborhood for $75,000 it's purely a function of what it would cost to rebuild and has nothing to do with the appraised value which is $50,000 tops.

@Ben LeybovichMy approach in residential investing is to:-buy on terms (sub2, wraps, etc) and- be cautious about selling on terms, using a lease and pure option, avoiding rent credits, and a RMLO for all seller financed buyers.- and to diversify out to commercial, turning around small apartments that are poorly managed.As to who the boogey man is, I have no clue.

My personal opinion is that's very difficult to make a living being a pure wholesaler (not impossible, just takes a while).

I will begin with only pure intent and never compromise good REI business ethics for the sake of making a buck.

While I agree with Bill's comments below this part about knowing the area and accounting for potential for more hassles in a lower income area I will say that this paragraph is pure opinion and conjecture.Interestingly earlier this year I bought a SFR for that exact price, put less than $2K into it and have it rented out ever since for $575 to a nice older woman that has always paid and hasn't given me any hassles.Is a place I want to live?

There's no "guru" real estate course to sell.This is pure networking - plain and simple...with the ultimate goal the networking will lead into DEAL MAKING.We will discuss what are you looking for in your real estate investing this year.

I'd have to agree with the above posters, based purely on the numbers provided, this isn't a good deal.