Listing low to create bidding war is very common practice on the West coast's ultra hot market..

My family has gotten bigger and worse case scenario we're upgrading into a much bigger house for next to nothing, and learning ALOT about flipping a house in the process.E.)Here's the new Ultra conservative numbers for the deal using a J Scott Formula:Sale Price - Purchase Price - Fixed Cost - Rehab Cost = $20k minimum profit $220k

The file place was ultra weak with no ability to quickly search the files.

Unlike in the US, the bubble never popped due to the combination of 28 years of uninterrupted economic growth and ultra low interest rates, two things that normally don’t go hand in hand together.

The utility costs rise over a point at which you can't increase the rents so your costs go up and profit goes down.This is why seller paid utilities I would have to get the property ultra cheap if I could not convert and put on the tenant.Another interesting component to this discussion is triple net properties.

Not saying that happened (unlike the approach taken by Mat), but the whole ordeal seemed ultra shady.And that's not mentioning anything about the shady arrangement you have with your local title company or the tactics allegedly employed by your various agents. 

Unfortunately that is what i'm up against here in NJ, unless I want to go ultra cheap and deal with poor, undocumented tennants.

100% vacant people are attracted to the ultra low price but many hard money people will not even lend on those.

Without having current tenants and relying on a significant rent increase in the assumptions, I would run a separate ultra-conservative analysis and see if it would cash flow using historical rent levels.

@Pat Brown, some agents in my ultra-red-hot Denver market report seeing as much as 20% of offers falling through, even cash offers.