Mostly due to the properties being out of their region or the speculative nature of these loans.Understandable, but this is before I even mention anything about the loan specifics or investment background.

I know it's an extreme approximation and varies not only region to region and city to city, but also property to property.

Similar homes in the region rent for about $2300-2500.

I'm offering, they need to write a check, not ask me for money to take a vacation to my region to check out the land!

Bill too many factors would weigh into this.You are looking at hard money with very high carrying costs at 60% occupancy as a regular lender won't touch it.Too easy to go from 60% to 40% or lower and the new lender has a fresh foreclosure on their hands.Unless you pay cash you will need a HML or private money and will have to pay low to get it to cash flow until you can refi into a lower debt service once stabilized.Is this a local,regional,or national bank??

Perhaps it's a regional thing and it's simply not common in SoCal.

Dave - #1 - I know our regions are different geographically but in your experience does Direct Mail to Absentee owners yield results from rental preoperty owners or SFR's that are just sitting vacant?

Find a good broker who is knowledgeable about the FHA guidelines and works with a lot of different banks; often, it's the regional and more local banks who are willing to do the under-90 day flip financing.In terms of larger banks, some Wells Fargo loan originators can get this done and some Flagstar underwriters will do it as well.

Here is just a quick example of why you should never do this:"Those considering obtaining attributes because investments will appreciate that roughly 42% of Memphis neighborhood occupants hire as opposed to personal their own homes and additionally it really is an region where investors currently have little trouble keeping their qualities rented.

Kalyn everyone wants cosmetic properties.You will find regular home buyers do not have to resell and will accept way less of an equity position and pay a higher price to get a home cheap with a low monthly payment.Their goals are totally different than a rehabber.This is why a bunch of success is taking on properties where a home buyer is not a competitor but it drives down the price with the property not being loan ready.If your offer of cash is just slightly lower than a finance home buyer the asset manager might still choose you.If there is a wide difference the asset manager might take a shot with the finance home buyer to net more.It depends on a bunch of factors which is being at the right place at the right time.You also have to understand local,regional,and national banks make decisions in different ways.Kayln are you offering to let the listing broker keep all the commission are are you getting greedy and asking for the co-op??