I do partnerships many different ways, some I split the equity on the sale; I'll bring the deal, and partner with the person investing because I brought the deal to them. 20/80, 10/90, 40/50, etc..

If I wanted more information, I'd call some of the rental units for sale, property managers, and real estate agents in the area to get a pulse on what's going on down there.

Even then though, the price could still be the issue even with the pro doing the sale.

I would focus on "Ugly inventory" but would pass an appraisal and not be "Subject to" so that I can renovate and refinance on the ARV in as little as 6 months to pull out my initial capital and enough to put down on the next REI.On the flip side Indiana and Ohio would also offer a sale price to cash flow ratio since you can still find a great deal in both states.  

Now I'm being told that because of the charitable contributions listed on the corporation paperwork we need to submit a full appraisal to the state and that the state attorney general needs to approve the sale.

It's sales and marketing.

Purchase price: $15,000 Cash invested: $15,000 Sale price: $5,000Motivated Seller- 3 Lots total: (1) Commercial Building, (2) 1 Bed room Rental houses, plus an extra lot.What made you interested in investing in this type of deal?

Since most of the homes that flooded took on electrical damage, you will almost certainly need to file a permit to do renovation as you will need the electric company to shut the power off, provide temporary meters, and turn the power back on.

It was a bankruptcy sale so it took a little longer, but gave us some extra needed time.

Economics are powerful until they aren't.